Saturday, February 15, 2014

Gold : Most Selling Is Coming From The Short-Sellers

In my estimate, the main selling in the gold market is coming from the short-sellers who are selling gold they do not even own. I believe most of the speculative longs have long since left the market, they were flushed out in the second half of 2013. I think all you have now is short-sellers and ultimately they are going to be forced to buy back that gold, I believe, at much higher prices.

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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