Jan 19, 2018

Why Wall Street Is Wrong About Gold Stocks

Peter Schiff in a recent article explains why Wall Street is wrong about gold stocks:

"When they see the price of gold going up, they’re like, ‘Well, why is the price of gold going up? I mean, what’s the point. The economy is great. There’s no inflation. The Fed is raising rates. Nobody’s buying gold. If it’s going up, it’s just going to go down.’ And so nobody sees the urgency to buy gold stocks the way they see the urgency to maybe buy oil stocks. But this is because they’re wrong. They think there is nothing to worry about. There is everything to worry about. There are so many things – there have probably never been more things to worry about. And the crazy thing is people aren’t worried about any of them. It’s probably because of the mania, because of the bubble. When you get into that mentality, nothing worries you.”


Related stocks: Goldcorp (GG), Newmont Mining (NEM), Barrick Gold (ABX), NovaGold (NG), Market Vectors Gold Miners ETF (GDX)