Gold Stocks Still Have Upside

These stocks are still so far from their 52 week high. Gold just made a 52 week high. I think we still have another 25 percent to go in gold stocks for them to get back to where they were last time gold was at this level.

Stocks: Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)

Exchange traded funds: Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD)

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: Headed Higher Short Term And Long Term

The Federal Reserve raised rates but I still believe that the next move is down. Meanwhile, gold now has to reverse the past 3 years of losses because they were based on the fantasy of a legitimacy of a U.S. economic recovery where the Federal Reserve could raise interest rates. I think gold is headed a lot higher in the short term, in the intermediate term and in the long term.

Related: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX)

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: "I Am Telling People To Buy Gold To Hold"

You do not have to know how high the price of gold is going to go. If you think it is going up, you buy it. It does not matter how much it is going up, I mean, I am not telling people to buy gold now and sell it later in the year. I am telling people to buy gold to hold. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG))

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

Markets: Sell-Off In European Banks

These big banks in Europe are lower than they were at their lows in 2008/2009 financial crisis. And the big one is Deutsche Bank AG (NYSE:DB) which had to come out and assure everybody that they do not have any solvency problems which is very reminiscent of Lehman Brothers or Bear Stearns.

Related stocks: Bank of America (BAC), Citigroup (C), Morgan Stanley (MS), Goldman Sachs (GS)


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: Up $120/ Ounce Since The Fed Raised Interest Rates

Gold was up 5 percent on the week. The price of gold has now risen 120 dollars an ounce since the Federal Reserve raised interest rates in December.

Related: Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX), Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD)

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 Vast Majority Of Nasdaq Stocks Are In Bear Markets

The vast majority of Nasdaq stocks are in bear market.s. Many of these stocks are down 40 or 50 percent or even more. In fact there are a number of Nasdaq stocks that are down 40 percent in a day! (LinkedIn Corp (LNKD)) The Russell 200 Index is already in a bear market. It is down 24 percent from its high.

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