Oregonrain

Peter Schiff: Outlook for the Gold Market

In the short run..I think we will see more downside pressure on gold. In the long run...yeah....its going to go up..a lot. While there is a very good argument that is made by Mr. Commodity Bubble guy in the short term regarding the total destruction of wealth I think that eventually the stimulus will "work." Meaning that the value of all assets will increase again. At that point gold will go up a lot.

I am looking to several "tells" that should allow me (I hope) to move fast. First, when oil prices start to increase. Second, when US housing prices at least slow their rate of decline and finally when the Chines economy starts to take off again. I think they will be in this order or very close to it. China may take off before the US housing market stabilizes.

When these things start to occur it time to jump on gold and commodities.