Sep 24, 2014

Gold: A Lot Of Support Around 1,200

I think from a dollar price perspective, there is a lot of support around this 1200 level and even a bit below. So I think there is going to be a lot of buying down here. Usually you get a lot of bearishness when gold gets around the 1200 level.

Related trading instruments: Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), NovaGold (NG)

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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