Once all the speculators that have been shorting gold discover that their premise is wrong, that we are not getting this vibrant recovery and that we are not going to get less QE (we are going to get more) and that we are not going to have rate hikes, that the Federal Reserve is going to keep interest rates at zero in order to prop up this phony bubble economy that they inflated, you are going to see a mad rush from all the short sellers that are going to be anxious to buy back their money losing positions.
But that`s going to be a lot more difficult because there is not going to be a lot of gold around. Because a lot of the gold that was liquidated in the second half of 2013 is not going to be available for sale in the second half of 2014. That gold was probably purchased by entities that never intend to sell it. So, I think we are going to have a real short squeeze and we are going to have a big rally probably beginning here in the second half of 2014.
Related Exchange Traded Funds and Stocks: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
- ► 2018 (145)
- ► 2017 (188)
- ► 2016 (252)
- ► 2015 (344)
- Yellen: Blowing Air Into Bubbles
- A Collapse is Coming.
- U.S. Growth: Drifting Lower As The Year Progresses...
- Yellen Dismisses Inflation As Temporary Noise
- Fed`s Low Rates Are Deterring Savings & Capital In...
- Gold: I Know What The Trend Is
- U.S. Economy: Heading Into Recession
- GDP Report: Its All Downhill From Q2
- Earnings Season: Companies Are Having Trouble With...
- More Disappointing Earnings: Amazon (AMZN)
- Video: 2014 FreedomFest Speech
- Painful Inflation
- Earnings Season: Stocks That Are Missing The Most
- Peter Schiff Interviews Doug Casey
- The Fed Will Ignore Inflation Because They Can`t R...
- The Bottom Is Going To Drop Out
- The Dow Jones Will Keep Falling In Gold Terms
- Prices Are Already Rising Faster Than 2% A Year
- What Investors Have To Worry About
- The Federal Reserve Can`t Acknowledge The Stock Ma...
- Americans Are Big Spenders Of Other`s People Money...
- The Housing Market Is Quickly Unraveling
- Federal Reserve and the Stock Market Bubble
- A Big Plunge In Housing Starts
- The Federal Reserve Is Financing Speculation
- CNBC`s Liesman And Conventional Ignorance
- Gold: A Real Short Squeeze Is Coming
- A Weakening Housing Market
- Gold Outlook (2014 Half-Time Report)
- Yellen: Highly Accommodative Monetary Policy Still...
- The Losing End Of The QE Stick
- U.S. Economy: Living Beyond Its Means
- Markets: Boom or Bubble?
- Gold: The Naysayers Are Wrong
- Bullish On The Euro Currency
- Gold: The Technical Picture Is Improving Rapidly
- The U.S. Dollar Will Lose Its World Dominance
- This Is Not Strong Job Growth
- Dow 17,000 and The Worst Statistic On The Employme...
- President Obama Does Not Understand Capitalism
- Video: The Fed Is Wrong, Again.
- IRS: The Double Standard
- ▼ July (42)