Peter Schiff stated recently that while he is heavily invested in gold, he is also bullish on other precious metals, and oil as well.
Specific metals identified by Schiff were platinum and silver, although he added he is also bullish on some industrial metals too.
The Gulf oil accident with BP (NYSP:BP) is particularly noteworthy in Schiff's estimate of oil in general, and he said the costs of offshore drilling will skyrocket, including insurance.
There will also be less oil because of the moratorium in the Gulf, which will decrease production if that isn't changed.
Demand for oil from China is a factor as well. So combining what appears to be increased demand and lower supply, and there is nowhere for oil prices to go but up, in Schiff's view.
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