Saturday, January 4, 2014

The Big Wake Up For The Price Of Gold

“Look how weak the economy is, look how weak the recovery was… Now we’re going back into recession again, and [with] interest rates already at zero, all they can do is dial up the size of the QE… When people realize that QE hasn’t helped… and [that] the US economy is going to continue to deteriorate and we’re going to try to paper it over with a flood of money – that’s going to be a big wake up for the price of gold. And I think the price is going to go straight up.” - in CNBC

Related ETFs: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX), Novagold (NG), Market Vectors Gold Miners ETF (GDX)

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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