Rick Rule talked with David Lin of Kitco News at the Vancouver Resource Investment Conference. Rule is the senior managing director at Sprott Inc., and he’s bullish on gold. During this discussion, Rule explains why, touching on a range of subjects including the Federal Reserve, the trade war, the US dollar, the bond market and more.
To kick off the interview, Lin points out that gold has been rather range-bound since the price spiked in the wake of tensions in the Middle East. Rule said this is a sign of a healthy gold bull market.
Donald Trump and Chinese Vice Premier Liu inked their signatures on the Phase 1 trade deal this week. But was it really a big deal? Or was it no deal? Mike Maharrey talks about it on this week’s Friday Gold Wrap podcast. He also talks about why the gold market seems to be holding steady despite some strong headwinds and the outlook for the yellow metal in 2020.
Gold had a strong year in 2019 and a World Gold Council report says the outlook for 2020 remains bullish.
We expect that many of the global dynamics seeded over the past few years will remain generally supportive for gold in 2020.”
Gold charted its best year since 2010 last year. The price increased by 18.4% in dollar terms. The yellow metal also reached record highs in every G10 currency except the dollar and the Swiss franc. There were record inflows of metal into gold-backed ETFs and central banks continued to gobble up gold.
In his latest podcast, Peter talks about sudden silencing of the war drums, the risk that remains in the markets, the stealth bull market in gold, the risk of a socialist president, rampant economic illiteracy, inflation and more.
As Peter put it – what a difference 48 hours makes.
The sound of war drums dominated this week. After Iran launched missiles at US bases in Iraq in retaliation for an airstrike that killed an Iranian general, gold spiked to over $1,600 an ounce — an eight-year high. But tensions seem to have eased and the price of gold with it, as the war drums have quieted. So, what did we learn from this and what’s next for the gold market? Host Mike Maharrey talks about it in this episode of the Friday Gold Wrap podcast.
Net inflows of gold into gold-backed ETFs came in at 400.3 tons in 2019, according to data released by the World Gold Council. ETF gold holdings grew by 14% last year and finished at 2881.2 tons.
Overall, global gold-backed assets under management grew by 37% in US dollars due to positive demand and an 18% increase in the price of gold.
ETF gold-holdings reached a record 2,900 tons in the fourth quarter. The previous record for ETF gold holdings was set back in 2012 when the price of gold was near $1,700 per ounce.
Gold has been surging since a US airstrike killed a prominent Iranian general. After Iran retaliated with missile strikes on US bases in Iraq, gold briefly pushed about $1,600 per ounce — an eight-year high.
Peter Schiff appeared on RT Boom Bust along with Bubba Horwitz on Monday to talk about the current geopolitical situation and its potential impact on the economy. He said tensions in the Middle East are increasing the risk premium, but there is a more fundamental reason gold is going up — Federal Reserve monetary policy. He also noted that the risks to the US aren’t so much military as economic. The US depends on foreigners buying dollars. Peter emphasized that gold is the best hedge in the current climate.
The price of silver was up better than 15% in 2019. This has led to a major improvement in investor sentiment toward the white metal, according to a report highlighted in the latest issue of the Silver Institute’s Silver News.
According to the report, silver got a boost from a host of factors, including economic and geopolitical concerns that drove safe-haven investment in precious metals.
Gold surged above the $1,550 mark in the wake of a US airstrike that killed a prominent Iranian general and has hit levels not seen since 2010. Monday morning, gold was trading above $1,575. As Peter Schiff put it in his podcast Friday, the yellow metal is climbing a “wall of worry.”
Gold had a pretty good run in 2019. In fact, it was the best year for the yellow metal in nearly a decade. So what’s in the cards as we rush headlong into the 2020’s? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks back at 2019 and highlights some of the things that drove precious metals markets. Then he pivots and looks ahead at 2020 and beyond. Where are we going and what will get us there?