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Peter Schiff sticks with $5,000 gold forecast - Wealth Managers

February 13,2013


"In two to three years it's more likely. I doubt it will take five years."

Peter Schiff sticks with $5,000 gold forecast - Wealth Managers

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So what does one of the biggest gold bulls out there have to say about recent action that has been anything but bullish for the precious metal?

"It's hardly any move. These are small moves and the media likes to make a lot of noise whenever this happens. 'We told you, gold's a bubble. Get out,'" says Peter Schiff , the chief executive and chief global strategist of Euro Pacific Capital, who has been calling for gold to hit $5,000 since 2000, when it traded at around $300 an ounce. ...

In fact, he says gold could go beyond $5,000, depending on how much longer money printing goes on. "A lot of people will get caught by surprise. People who buy and have the patience to hold on will be rewarded," he said.

As for the billion-dollar question -- when -- well, that's a tough call even for Schiff. "Can it get to $5,000 in six months? Probably not. In two to three years it's more likely. I doubt it will take five years. If it takes that long, it will go higher."



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