Peter Schiff: Iranian missiles launch gold past $1,600
We had a break-through in gold, which I predicted could happen. That means there's a very good chance gold is done going down. All signs point to a big bull market in gold and the window of opportunity to get in on it may be closing rapidly. While recording this podcast, reports of a U.S. airbase in Iraq under attack from Iranian missiles launched gold above $1,600.
It's amazing how little people understand about how well gold mining stocks are performing. While the S&P has returned 72% over the past 4 years, GDX has returned 125% over the same period. Over the past 5 quarters, S&P is up 12% while GDX is up 58%. You won't hear any of that on CNBC.
I think the best way to gain exposure to gold mining stocks is to buy the Euro Pacific Gold Fund (EPGFX), managed by the expert, Adrian Day. Morning Star gave the Euro Pacific Gold Fund 5 stars and it's been the number 1 performing gold fund from 2013 to 2018. The fund is also rated to have above average returns and below average risks, making it one of the smartest investments you can make right now.
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWeek, Time and Fortune. His broadcast credits include regular guest appearances on CNBC, Fox Business, CNN, MSNBC, and Fox News Channel, as well as hosting his own weekly radio show, Wall Street Unspun. He's also the author of the bestselling books: Crash Proof 2.0
