I'm not an apologist for Peter Schiff, but the year isn't over, and five thousand years of history is hard to argue with. Everyone keeps valuing gold in dollars.I dont think we have bottomed out either. Peter Schiff sells gold and silver so I wouldn't trust his opinion. He was calling for gold to be $5000 by year end and that will not happen. I am a big believer in PM but some of these guys look really stupid now that the PM market has tanked.
Arguments made by people who have never owned an ounce of gold and are preying on your concerns.Dead cat bounce?
Unfortunately I don't think prices have bottomed out yet. A lot of well though out arguments saying it will go to ~$1,100 before recovery.
Dealers in India are now required to put up 100% cash on all imports. Basically, it's now illegal to use a line of credit for those business. So they couldn't buy the dips like they wanted and over a billion people were no longer able to step in and buy. That impacted the banks and the rupee as well.Could you elaborate on this?