Traders Are Wrong In Making Bullish Dollar Bets

Traders are continuing to make bullish dollar bets despite the fact that more and more weak economic data continues to pour in.

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

Gold Is Strong Even In A Strong Dollar Environment

The ability of gold to strengthen in a strong dollar environment is a very positive sign because if gold is strong when the dollar is strong, then it will be really strong when the dollar is weak which ultimately is the future that waits the dollar.

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

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.