In my estimate, the main selling in the gold market is coming from the short-sellers who are selling gold they do not even own. I believe most of the speculative longs have long since left the market, they were flushed out in the second half of 2013. I think all you have now is short-sellers and ultimately they are going to be forced to buy back that gold, I believe, at much higher prices.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Feb 13, 2014
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- Personal Finance: Keep Little Cash
- What Would Be A Bearish Case For Gold
- China: Largest Producer Of Gold
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- Market Outlook: U.S. Economy, Federal Reserve & Gold
- U.S. Economy: Outlook For 2014
- The Real Unemployment Picture
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- We Have The Biggest Bubble Ever
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