Peter Schiff appeared on CNBC’s Futures Now this week to share his expectations for the price of gold following the Federal Reserve’s policy statement. Peter also predicted the higher Q2 GDP number and explained why he thinks the US dollar isn’t nearly as healthy as everyone thinks. Finally, Peter emphasized that gold has had bad press in 2014, even though it has out-performed the stock market with an 8% rise in the first six months of the year.
“Gold has gone up every year but one since the year 2000. So if you’ve been calling for a rise in the price of the gold, you’ve been right every year except one. That’s not a broken record, that’s just understanding what’s going on and predicting a higher gold price. It’s the people that have been calling for gold’s demise every single year who don’t understand the fundamentals… No market goes up every single year… I know what’s driving the trend and that’s the central banks, particularly the Federal Reserve.”
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Both you and Harry Dent have done well at predicting the market. How come there is such a radical difference on Gold?
There are radical differences on the view of gold because most folks don’t understand the fundamentals. The fundamentals are terrible for the economy & very bullish for gold. Buy now before it’s too late.
Mr. Schiff you call it over and over again, all those knuckle heads out there aren’t listening . We are in a world of brainwashed people not seeing we are broke. The Feds have fed them free meals to long. We are in a world of trouble with our currency. Gold is the way to go.
Mr Schiff, I have purchased gold in UK Pounds. My concern is, what affect a Dollar crash will have on my investment.
Kim
Hello Kim. Thank you for following Peter’s blog. Gold is inherently valuable, and its denoted price in any currency is simply a convenient way for us to measure that value. When the dollar crashes, the price of gold is likely to rise in all currencies around the world, the UK pound included. If you like, one of our Precious Metals Specialists would be happy to discuss this with you in more detail. You can call them at 1-888-GOLD-160, or click the “Request a Callback” button on the right to ask that they call you at a convenient time in the UK.
Interesting how the presenter tries to put words in Peter Schiff’s mouth…and she has a telling smile that she thinks Peter is wrong..