Capital Gold Group Report: Where is gold headed from here? Quotes from Peter Schiff and David Rosenberg

Peter Schiff, President & Chief Global Strategist of Euro Pacific Capital, told Business Week recently that, "People are afraid of the debasement of all the currencies. What's surprising is that gold is still as low as it is ... Gold could reach $5,000 to $10,000 per ounce in the next 5 to 10 years.” 

Peter Schiff correctly called the current bear market before it began. As a result of his accurate forecasts on the U.S. stock market, economy, real estate, the mortgage meltdown, credit crunch, subprime debacle, commodities, gold and the dollar, he is becoming increasingly more renowned.

David Rosenberg, former Merrill Lynch North American Economist and current Chief Economist and Strategist for Gluskin Sheff, an independent investment firm for high net worth individuals, stated on June 1, 2010,  "There is no doubt that gold can easily double from here.  Demand is always difficult to forecast ... but central banks bought more gold last year (425 tons) than at any other time since 1964. (Furthermore) the supply backdrop supports a sustained bull market, as production has fallen in 5 of the last 8 years. We know what the marginal cost curve is doing because there is so little cheap supply left in the ground that gold companies now have to drill as much as 2.3 miles to get to the yellow metal in South Africa (and all Bernanke has to do is press a button)."

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