Also in this playlist...
This transcript is automatically generated
Is crucial at our next guest timing looks to be impeccable at least for today.
A new gold fund is entered the scene and just in time gold prices.
Today hitting a one month high surging nearly 3% that's the biggest jump in the years so.
What are ways for you to play the sector if you are believer that gold will continue to move higher or that this is just a moment where it'll all start to fall again.
How -- Francisco joining us now is the guy who has impeccable -- this time around Peter -- Euro Pacific Capital CEO who just you just wants to Europe -- -- what is in this Peter.
-- -- on Friday Liz and you know I actually wanted to will launch in about a week sooner which would have been better but you know the regulators held it up as they often view.
And so it came out on Friday but you know I've been advocating and buying a gold stocks for myself and clients for years but.
The stocks have gotten so cheap they're actually the cheapest they've been since I've been alive.
That for the first time I traded publicly traded mutual fund are probably -- -- we -- find.
Where people could take advantage -- what I think is you know the opportunity of a lifetime.
In -- the gold mining sector biggest you know gold went down.
But the companies that -- it got crushed yeah I don't think they -- to be crushed because I think gold prices are headed a lot higher and these companies are gonna have a lot of profit.
OK so let's talk about what is exactly an EP GFX your new fund.
Well they're they're gold mining companies by and large -- want I'm not going over the specific stocks that are in there but I'm taking advantage of I sector that has really been destroyed.
Based on negative sentiment I mean I think you've got the best.
Fundamentals ever for gold stocks yet you have the worst sentiment everybody is -- everybody is sold these stock.
-- have nobody left to sell and I think you're gonna have a huge rise in the price of ball which is gonna catch all these speculators.
I'll by surprise -- sure of the market they're gonna have to cover on I think a lot of the gold mining companies.
Have taken action over the last several months.
-- that is gonna limit the amount of bull that they're going to mind in the future so I think there's not going to be a lot of supply there's going to be a lot of demand and is going to be a lot of opportunity in this sector if you get the right stocks and I think that there's going to be a lot of opportunities.
Opera consolidation within a mining sector is I don't think a lot of these -- mining company we're gonna spend a lot of money.
We're all looking for more bowled the mind what they might do is is mind some of the opportunities.
On the stock market because these stocks are so cheap it makes more sense of why aren't your competitors that -- go look for more bowl.
Tell what you're your target price for gold and tell me this is the wrong time -- -- but maybe by year and what do you see for the price of gold.
And what would get it there.
You know it's hard to tell you know I I think the bottom is gonna drop out of the dollar I think we have a real economic crisis coming in America that's going to be much worse the 2008 financial crisis.
We never really solve the problem because the Federal Reserve made them worse it bought us some time but we're gonna pay dearly.
I think the next crisis is a dollar crisis it's a US treasury sovereign debt crisis and that is the best possible environment for -- that I think gold is gonna be going up very rapidly when it turns around you can see several days we're gold goes up by more than a hundred -- today think people are gonna be very surprised by how quickly -- rallies.
Ultimately I think it goes to several thousand dollars an -- 5000 are higher press I doubt it will do it before the end of this year although anything is possible if we get a currency crisis.
And a lot but I think I'm coming and unless you're here Peter you showed us something called the bell Camby it was that.
That chocolate bar of chocolate it looks like a child with Barbara pieces that you could break off but it is made out of golden.
You're one of -- the dealers who was selling -- how are sales.
Sales are still good you know if you separate the physical gold market.
From the paper market from where all the speculators are in the hot money.
I demand is has been very strong all around the world for real visible gold.
The selling has come from the speculators and hedge funds.
The short term traders and they've sold this market down.
But I think once the technicals turn around and a lot of people who sold -- try to bite back.
It's going to be very difficult thing to do because a lot of the ball that was sold all the way down is not gonna be available for sale on the way -- so there could be a real problem in the physical market when these ETFs try to refill their coffers.
But the golden they liquidated -- -- -- anymore and it's not for sale at any price.
So we can go a lot higher but that might might bolt company we haven't seen any kind of decline in demand like we saw in the speculative community but they hedge funds right the private equity guys.
They've bailed out of the bull market -- and they realize they've made a mistake and they look to get back in it it's going to be very difficult task that took.
Published it's called now hero that is way out it's called the Euro Pacific gold fund had great timing certainly -- gold up today by more than forty dollars in the aftermarket.
But we know what's real goal Peter your brand new baby congratulations.
Thank you thank you completely.
To UN -- we appreciate you coming on Peter Schiff of Euro Pacific David a pretty good news congratulations to leadership and his news on what motors.
Filter by section