Peter Schiff: The Gold Price Will Soar When Investors Wake up

Peter Schiff told CNBC Futures Now that he believes that the gold is going for new highs. According to him the Syriam conflict does not have that much of an impact over the gold markets worldwide.

Peter Schiff gives Long-Term Forecast for Gold - 2014 and Beyond

Peter lays out the market sentiment behind the recent gold correction and why the long-term forecast for the yellow metal remains extremely bullish. He urges investors to consider seizing this opportunity by buying physical precious metals within an IRA.

Peter Schiff: Gold is a Long-Term Investment

Peter Schiff spoke n CNBC’s Futures Now to hammer home the point that gold is a long-term investment that offers protection from volatile fiat currencies.

"You have this record physical demand. Not only in America, but around the world. I mean, think about it: what are you going to do if you want to save your money? …You’re going to hold dollars at zero percent with Ben Bernanke promising to print to infinity? You’re going to hold euros, you’re going to hold yen, the Chinese RMB? There’s no currency you can hold and be confident of its future purchasing power…People are figuring this out, they’re voting with their feet. They’re holding something with intrinsic value that has historically been money, that people like Ben Bernanke can’t print.", explained Schiff.

Peter Schiff on Gold Prices

Despite the downwards movement of the price of gold recently, the Euro Pacific Capital CEO Peter Schiff says that this will not last for long. On Yahoo, he reports – gold prices will jump over 5000 dollars.

In his words, decisions still not made are now of great importance. He asks - how much time will the world need to realize the fact that we have been conning interest rates? 

Schiff describes the increasing debt of the US and the massive easing of the Federal Reserve as ‘bullish’ towards the precious metal. When the world comes to the conclusion that we ask for money in order to live a life beyond the means possible, a much more significant dollar drop will come to pass. In order for interest rates to remain low, more money will have to be printed by the Fed and thus, the price of gold will explode.