Thursday, December 27, 2012

Forgo Currencies for Precious Metals

Peter Schiff, economic pundit and president of Euro Pacific Capital, advises investors to stick with gold despite a recent downturn in bullion prices.

In an interview with CNBC Schiff says there are no currencies which provide a safe harbour investment at present, and that investors who just want to save their money should instead purchase precious metals, which possess intrinsic value and have long played a historic role as sound forms of money.

Schiff also notes that bullion prices will receive a boost from the surging operating costs of mining companies.

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