Peter Schiff: Reckless Fed may push gold to $5,000
Euro Pacific Capital CEO talks about Fed actions that would prompt a price surge
By Myra P. Saefong
MarketWatch.com
April 25, 2014
Peter Schiff, chief executive officer of Euro Pacific Capital, has been known to make forecasts outside the mainstream, and his long-running belief that gold has the potential to hit $5,000 an ounce is no exception. Prices, after all, are struggling to get a grip on $1,300.
We caught up with Schiff to ask him how gold, a big disappointment for commodities investors last year, gets back its groove. Last year, gold futures GCM4 +0.80% and heavyweight ETF SPDR Gold Trust GLD +0.62% lost 28%, breaking at least eight years of annual gains.
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