Scarcity. It is arguably the single-biggest driver of rising price and when you combine it with strong demand, the results are nothing short of astonishing, or in the case of gold, spectacular. “I think everything supports the fact that this is yet another buying opportunity in a string of buying opportunities,” says Peter Schiff, CEO of Euro Pacific Capital, in the attached video. “In fact, I think this may be the best buying opportunity yet.”
Part of his bullishness for the battered precious SPDR Gold Trust (ETF)(NYSEARCA:GLD) metal is seeded in the fact that he has been a long-standing outspoken critic of the Fed and its unprecedented policies that he feels will trigger runaway inflation and a worthless dollar.
While lots of speculators have come and gone from this volatile market over the past two years, Schiff says real demand for physical gold has been increasing the entire time, and that’s going to be his salvation for a core holding that’s lost a third of its value.
You can see the full “Breakout” interview below:
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