Gold Short-Sellers Are Getting Nervous

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

Yellen: Waiting For An Excuse To Call Off The Taper

In her prepared testimony she did stress her commitment to continue to follow through with the taper timetable that was established by Ben Bernanke. Of course, she did qualify that by repeating that it is data dependent, meaning that if the data changes, the Federal Reserve will change as well. I think the Federal Reserve knows the data is going to change, they are just waiting for the excuse to do what they are intending anyway which is to call off the taper and ultimately reverse it by increasing the amount of monthly QE, not diminishing it.

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: 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.