Peter Schiff is this week’s expert on Sprott Money’s interview series. They had a great conversation about the current negative attitude towards gold by mainstream media and investors.
“Once [the gold market] bottoms out, it’s going to be a huge rally. Because the sellers are going to be gone, and the buyers are still there. And once the market rallies sufficiently to change the sentiment around to the point where the speculative money, the investor money wants back in – where is the gold going to come from? Because all the gold that was liquidated in the last year, that was blown out of the ETFs, that gold is not coming back to the market. The buyers aren’t going to sell it. They don’t care what the price is… Gold was bought by a central bank in China? They’re never going to sell it!”
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