The euphoria with respect to the dollar and the U.S. Economy is not universally shared because if the people really were this optimistic on the dollar, gold would be going down.
The fact that gold outperformed the dollar, because gold was up in dollar terms this week, even when the dollar was up against other currencies, it means that gold was more appealing than the dollar. Because obviously people made more money in gold than they did in dollars, no matter which country you are from. I think this shows there is a lot of support, a lot of strength in the gold market that people do not appreciate.
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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- U.S. Economy: GDP Report Is Even Weaker Than It Seems
- A Bearish Case For Apple (AAPL)
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- "W" Bottom In The Oil Price
- The Consensus On The U.S. Economy Is Wrong
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- The Dollar Is Going To Fall Off The Edge Of A Cliff
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- Traders Are Wrong In Making Bullish Dollar Bets
- Gold Is Strong Even In A Strong Dollar Environment
- There Is A Lot Of Strength In The Gold Market
- A Bullish Signal For Gold
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- U.S. Economy: The Fantasy Is Going To End
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