Monday, August 9, 2010

Peter Schiff Says Price of Gold Unlimited

In a recent interview which focused on being in the early stages of an inflationary depression, Peter Schiff also responded to a question on how high he felt gold prices were going to go.

His take is he's shocked that it's still at only $1,200 an ounce, and sees no limit to the upside potential in the current economic climate.

Schiff said in responding to how high he felt gold would go:

"There's no limit to how high gold prices will go. They will rise many times from here --thousands and thousands of dollars per ounce higher. People will be shocked.

"It's surprising to me that gold is still as cheap as it is. I just know it's going higher, and eventually it's going to go ballistic."

Other places to look to put your money in Schiff's view are precious metals, commodities and emerging markets. He advises no one to have their money in U.S. Dollar assets like bonds and Treasuries.

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