Opportunities Abound in Gold and International Assets

Source:

...the most exciting development was in the price of gold and silver - not only that gold hit $800 and silver soared 8%, but that they broke through pronounced resistance levels...

...the most exciting development was in the price of gold and silver - not only that gold hit $800 and silver soared 8%, but that they broke through pronounced resistance levels.

Gold started showing its contrarian intentions on Thursday, a day that oil fell below $50 and commodity stock were pulverized...

If you missed Aaron Trask's interview on Tech Ticker of author and investment adviser Peter Schiff, you should watch it soon...A longtime gold bull, Schiff believes the dollar's "phony" rally will soon end. To his credit, Schiff admits being caught off guard by the greenback's recent bounce.

Schiff believes efforts by global central bankers to fight the credit crunch will lead to devalued currencies, and higher commodity prices. (To his greater credit, Schiff has nailed a lot of call correctly in recent years, unlike most others.)

Gold's recent slump it remains more than 20% below its summer highs is partially due to the "massive margin call" hitting U.S. financial firms, Schiff surmises.

That process has created the "opportunity of a lifetime" in foreign stocks, currencies, and commodities, says the author of "The Little Book of Bull Moves in Bear Markets"and a self-admitted bear.

It sounds like he wants us to sell the traditional stocks on any rallies though. Schiff believes the general stock market has another 5 to 10 years of bear market action ahead as America struggles to come out from under a mountain of debt...

Whether the precious metals and their stocks are "off to the races" or just experiencing a seasonal boost after a very tough 7 month period is yet to be seen...

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