Monday, February 23, 2015

Gold prices not as bad as you may think

Gold has not fallen, not nearly as much as the gold bears have expected. In fact, in 2014, gold was only marginally lower by 1% or 2% lower in dollars, but in most other currencies it did very well. It was up 5%, 10%, 20% or more.

You pick a currency, and gold did very well. In fact, gold outperformed most all the stock markets in the world in 2014. Thus far in 2015, it is beating most all the stock markets, and it is certainly beating all the currencies.

The skeptics have constantly overestimated how much gold would decline, and they are still very negative on the price of gold.

Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009