“I think [gold] is set off quite well [in the new year]. We’ve had a lot of negativity on the price of gold. People were expecting it to drop a lot more than it actually did decline last year. This year is beginning with a lot of negativity as well, although the price action so far early in the year looks quite encouraging. But I do believe that what was driving gold lower for the last several years – and I think it’s been down 3 years in a row – was the false belief that what the Fed had engineered was a legitimate economic recovery in the United States and that higher interest rates would be supportive of the dollar and detrimental to the price of gold.”
Peter Schiff’s 2016 Outlook For Gold Fundamentals (Video)
Posted by Peter Schiff - SchiffGold
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