Peter Schiff

But the price is going to go up as more investors want to buy a relatively scarce commodity.

There's not a lot of production coming online for gold.

It's not like anybody's discovered a huge new gold mine.

I think some of the new supply for investors may come from jewelry that gets melted down.

I mean, some people, let's say in the US, if they lose their job and the economy is very difficult and they need money and they have some old jewelry that they don't wear,

They may just sell it, and companies will buy it for the value of the gold.

But that's not going to move the needle, really, on supply.

That might really happen with silver, too.

People start bringing in their silverware.

Silver gets up to $100.

Oh, yeah.

I don't think people are melting down their silverware yet.

Silver is almost $60.

But I think that's going to be...

you know, a source of supply.

It's going to happen because people are going to be in desperate situation where they have a hard time paying the bills.

They might say, you know, I got some silverware.

our good silverware that we don't really use very often.

But if I can sell my silverware for $30,000, that might come in handy.

Where that silverware might have only been worth $5,000, now it's like $30,000.