With continued volatility in gold and silver, today King World News interviewed PeterSchiff, CEO ofEuropacific Capital. When asked about the action in gold Schiffstated, “This had been the longest winning streak for gold since 1980 as far as consecutive up days. I think more importantly the Dow Jones broke down Monday to less than 7.8 ounces of gold, that’s the first time it has been below 8 ounces in this entire bull market.
So the Dow is even lower today in terms of gold than it was in March of 2009 when the index was at 6,500. That shows you how much real value is being lost nominally even as the market goes up. That bodes very well for gold as an asset class, as an inflation hedge, that not only is it rising, but it is rising relative tostocks.”
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