In his latest interview with Greg Hunter of USAWatchdog, Peter Schiff explains the turnaround in gold prices and what investors should be prepared for in the future.
“[Gold] is really setting up for a huge reversal, because once the technicals turn around and the momentum goes back to the upside…the gold [that speculators] sold on the way down isn’t going to be available on the way up… The people who own it aren’t going to sell it at any price, because they didn’t buy it to trade out of it. They bought it to own it, to keep it. So this is going to be a big problem for the shorts, and even people who want to re-establish longs, because I think most of the people who want to get back into the market are going to get back in a lot higher than people got out.”
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