Peter Schiff’s most recent commentary on gold:
"We are at 1290 on the price of gold, so we're right below where I thought the support was at 1300."
"I'm not that worried that we're going all the way back down to 1200."
"I don't think we see a bigger pullback though given the fact that we're not getting a rise in the dollar and oil prices are now comfortably holding above $50 a barrel."
"Strong oil, a weak dollar, to me that means that gold prices are likely heading higher even though we're a little bit below that support, I think that people are gonna buy it, I do think that 1300 is maybe the new 1200 so anything under that I think is going to be looked at as a buying opportunity."
Related trading instruments: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Barrick Gold (ABX), NovaGold (NG), Newmont Mining (NEM)
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