Peter Schiff - Gold Has Broken Out, We Are Looking at a Retest of All Time Highs
"Gold has now broken out of a channel. There was a very nice trendline and we just broke out of that today. Now that we have broken out of that channel, there is a lot of room to the upside. The next channel for resistance appears to be another $100 higher than current levels for gold.
If gold breaks above the $1,650 level with conviction, then I think we are looking at retest of the all-time highs from late summer of 2011. And nobody is really anticipating that because these gold stocks are priced for a collapse in the price of gold, not a return to the highs."
- Peter Schiff via a recent King World News interview, read the full interview here:
