Sunday, February 16, 2014

Gold Is Leading The Way But Wall Street Is Still Skeptical

The gold market is actually leading the way. In fact, thus far in 2014 gold prices are up around 7 percent while the stock market is lower.We are off the lows of the year but still in negative territory.

While gold is up 7 percent, gold stocks are up around 20 percent. But Wall Street is still extremely skeptical of the gold rally. Everybody expects that this rally is a head-fake, that is going to reverse and that gold is still headed much lower for 2014.

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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