In Terms of Gold, Market Headed Back Down (Video)
In his latest video blog post, Peter Schiff analyzes the latest economic data and the overwhelming negative sentiment against gold. Picking apart some anti-gold headlines from Forbes and The Wall Street Journal, Peter counters the gold naysayers and explains why they’re completely misinterpreting the fundamental condition of the US economy.
But rather than the price of gold collapsing to meet the expectations of the price of gold stocks, I think the reverse is going to happen… I think the price of gold stocks will soar to catch up to the price of gold… If you look at the price of stocks relative to gold this year, we have resumed our down trend. And so even though the stock market is now heading higher in terms of dollars, it is now headed lower in terms of gold. And that is a trend that I am convinced will continue.”
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