Gold: Most Selling Is Coming From The Short-Sellers

In my estimate, the main selling in the gold market is coming from the short-sellers who are selling gold they do not even own. I believe most of the speculative longs have long since left the market, they were flushed out in the second half of 2013. I think all you have now is short-sellers and ultimately they are going to be forced to buy back that gold, I believe, at much higher prices.

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 Leading The Way But Wall Street Is Still Skeptical

The gold market is actually leading the way. In fact, thus far in 2014 gold prices are up around 7 percent while the stock market is lower.We are off the lows of the year but still in negative territory.

While gold is up 7 percent, gold stocks are up around 20 percent. But Wall Street is still extremely skeptical of the gold rally. Everybody expects that this rally is a head-fake, that is going to reverse and that gold is still headed much lower for 2014.

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

Wall Street Is Fixated On This Story

This is all wishful thinking. This is all living in a delusion. Wall Street continues to be fixated on this story of a robust economic recovery that just does not exist.

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

Video: Market Update (U.S. Economy, Janet Yellen and Gold)

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

Video: Taper Will Not Be Continued As "Planned"

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

Rally In Bonds: False Safe Haven Bid

The rally in bonds is only because of the false safe haven bid that the bonds are getting because of all the problems, just the beginning of the taper is causing. But I am not basing my idea that the taper isn`t working on the recent sell-off in the market. I knew this sell-off was coming, that is why I said, when the Federal Reserve starts to taper, the markets are going down. As the Federal Reserve tapers more, the markets are going to be under even more pressure. And imagine how much pressure they would be under if the Federal Reserve actually tried to sell the 4-plus trillion in Treasuries and mortgages that are currently on its balance sheet.

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