Tuesday, December 15, 2015

Gold (coin) bugs: No, we're not crazy for buying

Even in the face a steep price swoon and a variety of other factors that seem to be lining up against the yellow metal, true believers have been stepping in to buy physical gold at a robust pace.

But before you start fitting them for tinfoil hats — the kind that folks who fear alien invasion and the end of times might wear — consider that gold advocates believe their reasons are sound and not based on preparing for the apocalypse.

"That's not why I buy it. It's got nothing to do with the end of the world for me," said Peter Schiff, CEO of Euro Pacific Capital and perhaps the most prolific standard-bearer of the gold crowd. "If the world's going to end, gold's not going to do you any good, either. I'm buying gold because of its monetary properties."

- Source, CNBC