Peter Schiff gold price predictions like this are typically predicated on gloom-and-doom forecasts of a dollar collapse and a financial meltdown.
This take on gold investing tends to attract skeptics. The gold skeptics are so dead-set on discrediting this caricature of gold investing – brought on by the Peter Schiff gold investing thesis – that they write gold off altogether as an asset for the paranoid investor.
This polarizes the investing world between gold bugs who think an economic collapse is imminent and gold bears who think the gold bugs are scare-mongering demagogues.
The truth about why gold matters lies somewhere in between.
You don't have to agree 100% with Peter Schiff gold predictions to appreciate the yellow metal's value. Regardless of which "side" you're on, gold is an important part of a portfolio.
- Source, Money Morning