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VIDEO - Rick Rule: Very Satisfied with Gold's Performance this Year
Oct. 30, 2017 04:50PM PSTPrecious Metals
In this video interview, Rule discusses the gold price, cryptocurrencies and the impact — or lack thereof — of US President Donald Trump.
The gold price has had a tough time reaching — and staying above — $1,300 per ounce this year, but Rick Rule of Sprott US Holdings isn’t concerned.
“I’m very satisfied … with gold’s performance this year,” he said at the New Orleans Investment Conference. “The fact that gold has done well during a time with minimal turbulence says that it has performed its job in terms of maintaining or increasing people’s purchasing power.”
Rule also touched on Donald Trump and the impact — or lack thereof — he’s had on the gold space since winning the US presidential election last year. “I see him as a sideshow with regards to gold. I see him as an excuse for people to exercise their emotions,” Rule commented.
In terms of cryptocurrencies, which some argue are beginning to steal the spotlight from gold, Rule said that while he thinks the speculative part of the gold market has been impacted by cryptocurrencies, overall he doesn’t see the two competing. “I’m a fan of cryptocurrencies,” he explained, “[but] I think ultimately that the cryptocurrencies and gold serve a very, very different purpose.”
Watch the interview above for more insight from Rule on gold, cryptocurrencies and Trump. The transcript for this interview will be added shortly.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.