Peter Schiff: Why the Gold Surge is Just StartingSubmitted by DJP333 on Thu, 10/17/2013 - 22:47
Gold rallies on news of a short-term budget deal but Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital, says that's just the beginning.
Goldman Sachs got it completely wrong, says Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital. A budget deal doesn't make gold a "slam dunk sell", as Goldman's head of commodities trading Jeffrey Currie said it would on October 7. Instead, says Schiff, gold is a "screaming buy".
Gold may be up 3% Thursday on a debt deal between Congress and the President. But, Peter Schiff says the yellow metal has more room on the upside to go because of the deal, not in spite of it.
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