Gold: Some Overhead Resistance Above 1,200 Dollars

Gold is just below 1200 dollars an ounce. Its really been banging up and down. Every time it gets above 1200 they seem to smash it back down but of course whenever they smash it back down the buyers show up, so they really can`t break the market but there is still an overhead resistance to keep it from exploding.

But I think eventually the buying is going to overtake the selling and we will run out of sellers in the gold market and when it finally goes up, it is going to go up in a rather spectacular way.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.