Peter Schiff Says Rising Yields Bode Well for Gold
Peter Schiff, who deals in precious metals and rose to fame by warning about the financial crisis of 2008 long before it happened, has again made news by saying that the current rise in bond yields is very good for the price of gold. During an interview with Kitco News, the owner of an equities fund focusing on gold said that traders and investors have it wrong when they assume that rising yields are bearish for gold. The reverse is actually true, Schiff says. He explains that when yields rise as quickly as they are now doing, the message is…