There Is A Lot Of Strength In The Gold Market

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.

A Bullish Signal For Gold

Gold had very interesting week. It finished back above 1,200. In fact it finished Friday strong. Gold was up about 14 dollars, it closed at 1,207. What was interesting about the strength of gold is that the dollar had one of its best weeks in months. The dollar was up better than 3 percent on the week, closing the week near the highs, yet gold prices rose despite that. In terms of other currencies, gold was much stronger. In Euro terms, gold is very close to a 2-year high.

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

European QE & QE4

The whole justification for European QE is, "Hey, look how well it succeeded in America."

But if we slip back into recession and have to do QE4, that is pretty strong evidence, at least to anybody who is thinking, that it did not work.

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