Silver Dollar Values Prices Skyrocket, Peter Schiff: Gold To Go Higher Than $2,000 - Gold Prices

Feb. 13, 2013 - PRLog -- Because more business leaders convey concern over the possibility of a fiscal cliff, safe haven investments like gold seem more enticing. But specialists also warn against jumping in to the gold rush. Raymond Key, head of metals trading at Deutsche Bank, told reporters this week he expects gold to surpass $2,000 an ounce next year. How High Will Silver Go? Learn More Kitco Silver >> http://www.silverdollar.cc

The price of gold is presently about $1,700 an ounce in futures trading, down from prior highs of $1,900, not adjusted for inflation. Peter Schiff, CEO of Euro Pacific Precious Metals in New York, stated gold could rise even further. "I believe the price of gold is going to go a lot greater than $2,000," Schiff stated.

Schiff stated the purpose why the price is not greater than $2,000 now is the fact that many individuals do not have a complete grasp of the country's present financial challenges. "People do not comprehend the real scenario the U.S. is in or the international economy," he stated.

Schiff, author of "Crash Proof 2.0: How to Profit from the Economic Collapse," was referring to worries about inflation and also the fiscal cliff, a package of tax increases and spending cuts which are anticipated to take place in 2013 unless Congress agrees on a spending budget prior to then.

Numerous reports show that most taxpayers will have greater tax rates next year, such as payroll taxes and taxes for high earners, when the federal fails to attain an agreement that would steer clear of the fiscal cliff. Gold Coins, Silver Coins, Rare Coins  Learn More >> http://www.silverdollar.cc/GOLD-COINS/

Nevertheless, even when the fiscal cliff is avoided, you will find other issues. Schiff fears inflation is devaluing the U.S. dollar because the Federal Reserve is preserving near-zero interest rates through mid-2015 in the hope of stimulating the economy, particularly the country's struggling labor marketplace. "You can own dollars and watch your savings evaporate," he stated. "The option would be to own gold."

Recognized as a safe haven investment, bullion, or gold bars, is anticipated to attain its 12th annual gain, as investors are concerned about further financial fallout in the European Union along with a volatile post-election economy. "The only method to steer clear of hyperinflation would be to go over a lot larger fiscal cliff," Schiff stated. "Unfortunately, inflation is going to get a lot worse. When the Fed does not do something about it, gold is going to go ballistic," Schiff stated.

Specialists warn customers against gold-related scams, like clients who had been charged 55 % more for gold coins than their actual worth. Goldline International agreed to pay $4.5 million to individuals who had purchased gold coins in one scam. Schiff published a report about classic gold scams and tips to prevent getting scammed that's accessible at no cost download on-line.

One typical scam will be the "bait-and-switch" in which dealers will attempt to get customers to switch to rare coins from bullion, claiming they're a better investment when in reality they can be more risky.

The Federal Trade Commission lists tips for customers contemplating purchasing or selling gold, such as noting that the price of gold fluctuates over time and that there's no guarantee that gold will increase or maintain its worth. The FTC also states that if you're purchasing bullion coins or collectible coins, ask for the coin's melt value, the fundamental intrinsic bullion worth of a coin if it were melted and sold. My recommendation is to buy gold and silver from a reputable online dealer such as Kitco. How High Will Silver Go? Learn More Kitco Silver >> http://silverdollar.cc