The gold market is actually leading the way. In fact, thus far in 2014 gold prices are up around 7 percent while the stock market is lower.We are off the lows of the year but still in negative territory.
While gold is up 7 percent, gold stocks are up around 20 percent. But Wall Street is still extremely skeptical of the gold rally. Everybody expects that this rally is a head-fake, that is going to reverse and that gold is still headed much lower for 2014.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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