Longer-term, gold prices are headed much higher than current levels and could even go to $5,000 an ounce, this according to Peter Schiff, CEO of Euro Pacific Capital.
“I do think that this is the beginning of the breakout of the consolidation that we’ve been in for the last several years, but ultimately I think gold’s going to go quite a bit higher than $5,000,” Schiff told Kitco News.
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