There is still more fear than greed in the gold market. People are more worried that the market is going to crash and they want to cut and run. They are more anxious to get out, more nervous that gold is going down than they get excited when gold is going up. Well, this is a good sign of a bull market climbing a wall of worry. (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.
Feb 18, 2016
Feb 17, 2016
Markets: Stocks, Gold & Gold Stocks
The stock market and the gold market are really the mirror image of each other right now. Gold tends to be trading off of stocks, if stocks are going down, gold is going up, if stocks are going up, gold is going down. So that is the dynamic that is in play right now.
Ultimately I do believe that stocks, gold and gold stocks will be going in the same direction because they will all be responding positively to the Federal Reserve admitting that is not going to raise interest rates, that it will be cutting interest rates even to negative and launching QE4. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), SPDR Gold Trust ETF (GLD), 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.
Ultimately I do believe that stocks, gold and gold stocks will be going in the same direction because they will all be responding positively to the Federal Reserve admitting that is not going to raise interest rates, that it will be cutting interest rates even to negative and launching QE4. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), SPDR Gold Trust ETF (GLD), 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.
Feb 16, 2016
As Long As The Fed Keeps On Bluffing, The Markets Will Keep On Falling
Whenever the Federal Reserve raised interest rates there was going to be a disaster. The fact that they waited so long means it is going to be a bigger disaster.
We are only going to have a crash if Janet Yellen continues to pretend that the economy is healthy and that the Federal Reserve is planning more interest rates hikes. I think the Federal Reserve will launch QE4, I think the next move by the Federal Reserve is to cut interest rates, not to raise them again. As long as the Federal Reserve keeps on bluffing, the markets will keep on falling.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
We are only going to have a crash if Janet Yellen continues to pretend that the economy is healthy and that the Federal Reserve is planning more interest rates hikes. I think the Federal Reserve will launch QE4, I think the next move by the Federal Reserve is to cut interest rates, not to raise them again. As long as the Federal Reserve keeps on bluffing, the markets will keep on falling.
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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