Peter Schiff: U.S. Rally Is Doomed, Gold Will Hit $5000

Discussion in 'Economics' started by WallStWhizKid, Sep 24, 2009.

  1. IS that right, stealth vendor??? Gathering the flock for fleecing I see. A know it all who knows nothing.

    #51     Sep 29, 2009
  2. S2007S


    Gold to 1500 by end of 2010.

    $5000 is certainly not out of question by 2020+
    #52     Sep 29, 2009
  3. #53     Sep 29, 2009
  4. Eventually he may be proven right yet again, but in between his being right, there will be opportunities to make money with the market rather than against it.

    I have been a longer-term gold bull myself, but the latest COT data does not bode well for gold prices going forward. A big correction in Gold may be in the cards before we see $5000.

    #54     Sep 29, 2009
  5. If I had a nickel for every time gold was going to double-triple in price...
    #55     Sep 29, 2009
  6. Devin Brady

    Devin Brady ET Sponsor

    I remember trading gold at $265 about 10 years ago...not a bad return.
    Missed the move picking up your nickels?
    #56     Sep 29, 2009
  7. That is a horrible return. I can name 10 other issues that got 5-fold or higher returns in a shorter timeframe over the past 10 years.
    #57     Sep 29, 2009
  8. Yes indeed.


    Fanny and Freddy


    #58     Sep 29, 2009
  9. Devin Brady

    Devin Brady ET Sponsor

    And I can name 2000 others that didn't---what a terrible argument.
    #59     Sep 29, 2009
  10. can you also remember that gold has been a terrible longterm investment??? It reached $800 decades ago.
    #60     Sep 29, 2009