Feb 20, 2018 Guest(s): Peter Schiff CEO, Euro Pacific Capital
Overly optimistic sentiment in the financial markets may reverse trends and cause investors to rush into gold, said Peter Schiff, CEO of Euro Pacific Capital. Speaking on the recent euphoria in equity markets, "I think they've more than priced in benefits of the tax cuts," Schiff told Kitco News on the sidelines of the Vancouver Resource Investment Conference, "these tax cuts are not going to provide the economic boos that everybody believes." Schiff said that the yellow metal has surprised initial expectations that it would fall when the Fed raised rates; gold has climbed 9% since the Fed hiked last month. "If we can decisively move above [current resistance at around $1,350 an ounce] and get above $1,400 [an ounce], just to make sure it's cleared out, then I think it's off to the races," he said.