December 7, 2009

Its Not Too Late For Buying Gold

"It's not too late for buying gold. I still haven't seen anything in the gold market that is reminiscent of any kind of mania or bubble. The average American is still way underinvested in gold: probably 99 out of a hundred Americans don't own any gold at all other than their jewelry and most people who have jewelry are selling it for cash-for-gold programs.

We have a ways to go. Even all the way up to 2,000 USD an ounce you're going to see a lot of retail buying. Once it clearly crosses the 2,000 USD level we'll start to draw in a wider segment of Americans. By the time it reaches 5,000 USD, and it won't be that long, it will be a lot more common for people to own gold." in

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
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