You would think that gold stocks would be up a lot more considering the fact that the cost for these mining companies are plunging because their labor costs are going down because they are in Canadian Dollars or Australian Dollars, their energy costs are collapsing and the revenue is going up.
But Wall Street is still oblivious to these bargains that exist in the mining sector but of course year-to-date the mining stocks are up and that is the only sector in the market that is up and I tell you that no one on Wall Street owns these stocks.
(Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), Market Vectors Gold Miners ETF (GDX))
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Jan 7, 2016
The Yen Strength Is Scary For The Markets
The Dollar/Yen (USD/JPY) is really breaking down. And to me that is a very scary proposition for the markets to see this strength coming in the Japanese Yen.
(SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ))
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
(SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ))
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
The Reason Why The Stock Market Is Falling
I do not believe that the news announcement had anything to do with the market`s decline. The market would have declined anyway even if North Korea had not tested the bomb, they would have blamed it on something else.
But the real problem is the Federal Reserve taking away the monetary heroin from all the addicts on Wall Street and this is the withdrawal.
(Select Sector Financial Select Sector SPDR ETF (XLF), SPDR Barclays Capital High Yield Bnd ETF (JNK), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ))
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
But the real problem is the Federal Reserve taking away the monetary heroin from all the addicts on Wall Street and this is the withdrawal.
(Select Sector Financial Select Sector SPDR ETF (XLF), SPDR Barclays Capital High Yield Bnd ETF (JNK), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ))
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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