I think from a dollar price perspective, there is a lot of support around this 1200 level and even a bit below. So I think there is going to be a lot of buying down here. Usually you get a lot of bearishness when gold gets around the 1200 level.
Related trading instruments: Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), NovaGold (NG)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Sep 24, 2014
Sep 23, 2014
U.S. Economy: QE Creates Addiction
The more you stimulate an economy with QE the more addicted it becomes to it. If you take it away, you get withdrawal and then the Fed comes right back with more.
Remember Janet Yellen said, "Its all data dependent." And if the economy rolls over, she is back in the QE business and the rate hikes are off the table.
Related trading instruments: EUR Futures, EURUSD forex, SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), SPDR S&P 500 Index ETF (SPY), Select Sector Financial Select Sector SPDR ETF (XLF)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Remember Janet Yellen said, "Its all data dependent." And if the economy rolls over, she is back in the QE business and the rate hikes are off the table.
Related trading instruments: EUR Futures, EURUSD forex, SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), SPDR S&P 500 Index ETF (SPY), Select Sector Financial Select Sector SPDR ETF (XLF)
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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