Skip to main content
  1. News
  2. Business & Finance
  3. Industry

Ron Paul explains why gold is a safe haven investment on CNBC

See also

With gold at a 3% gain since the start of the year, Ron Paul believes gold has reached the bottom of its cycle, or so the former Texas congressman and presidential candidate said in a phone interview this morning on CNBC.

"I don't see gold so much in short-term because I see it in over a 100-year period," Paul told the CBNC show Talking Numbers.

"Long-term, it will always go up so long as we have a Fed printing money. But, on the short-term, the traders have a lot to say about this. A correction like we just had last year – one year out of 13 – that's not a big correction. That doesn't destroy a so-called bull market."

With continued stimulus, growing national debts, and market fear, Paul says investors will flock to gold.

"I think they're going to move to gold," Paul said. "Gold is going to be the safe haven which it's been for 6,000 years."

Advertisement