Gold Price 2014 Prediction & Outlook - Peter Schiff

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jprich16

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Clearly Gold has been part of the bull market and investors are very bullish about it. This is because the FED is artificially inflating the stock market and dollar. This is increasing economic growth, a strong equity market and with low inflation is the exact situation where gold falls. heres peter schiff gold outlook for the rest of 2013 and 2014.

Whats your thoughts on it? Do you agree with him?

 
I simply don't think it makes much sense to put your metals with a custodian. What's the point of owning gold if you aren't getting rid of counter party risk?

If you are going to own anything gold in your ira, go with the mining companies. Keep your stack separate.

I also don't think IRAs are going to continue to exist in their present form. I fully expect they will confiscate IRAs, pension etc.. Either overtly or by forcing us to buy bonds or something.
 
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Good points by Schiff re: fundamentals, although one thing to point out - "people are going to want to store their savings in REAL money, something that preserves purchasing power despite the inflation" - that's rather thin argument. How does it preserve purchasing power, as measured in "worthless fiat", if it goes DOWN, as measured in "worthless fiat", despite the inflation??? LOL
Although I agree with him, I believe that this is just a correction (although, a big one), and all the reasons that made me to turn to precious metals two years ago, are still in place - only, much more today :). Current market rally is beyond ridiculous, loved that #Twit from Rickards from May the 7th:

"DOW closes above 15k. Repeat after me:This is not a bubble. This is not a bubble. This is not a bubble. This is not a bubble. "
:)
 
Well, good predictions and foresight by Peter Schiff, however, with the current trend be it gold, silver, stock, etc…one can’t really stay happy investing in just one market but plan asset allocation and withdrawal plan smartly.
 
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