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Contrarian investor and Sprott U.S. Holdings Inc. CEO Rick Rule shares his winning strategies
How many Americans own gold? Certainly a notable portion of the country believes that gold makes a good investment. Gallup annually surveys American adults on their perceptions about investments; in 2011, when gold prices were relatively high, gold was deemed the best long-term investment by 34% of respondents (real estate was next at 19%).
Apprehension of higher goods and services tax (GST) rate and increase in demand leads to surge in India’s gold imports by 236.7% to $5 billion in May
Even with gold’s recent pullback from $1,290 last Thursday to $1,269 today, gold prices are up almost 20% since the beginning of 2016.
In the main commodity markets, nothing is doing better than palladium this year. The metal is up 30 percent, beating 33 other raw materials, including lean hogs and aluminum, tracked by Bloomberg. On Friday, prices surged as much as 7.9 percent to a 16-year high of $928.36 an ounce as some traders were said to scramble to get hold of physical supplies.
India, which vies with China as the world’s top gold consumer, saw a fourfold increase in imports of the precious metal in May as traders stocked up fearing that the government would fix a higher rate for jewelry under a new national goods tax to be implemented from next month.
From safety-deposit boxes in leafy west London to high-security facilities housing gold and silver in Frankfurt, companies that store valuables are expanding to meet demand.
China, the world’s biggest gold market, may boost imports through Hong Kong by about half this year as local investors seek to protect their wealth from currency risks, a slowing property market and volatile stocks, according to the Chinese Gold & Silver Exchange Society.
After a 2016 rally that ended five straight years of declines, prices of everything from crude oil and zinc to sugar and soybeans are once again mired in slumps.
After months of "smoking guns" and conspiracy theory dismissals, a Singapore-based Deutsche Bank trader (at the center of fraud allegations) finally confirmed (by admitting guilt) what many have suspected - the biggest banks in the world have conspired to rig precious metals markets.
The latest report from the World Gold Council says that gold demand from India was what supported global gold demand in the first quarter of 2017. Indian purchases of gold jewellery in the first quarter of 2017 accounted for a little over a fifth of world jewellery demand. That is completely out of proportion to India’s share of world gross domestic product (GDP), which is around 3% or so, in current US dollars.
In mining investment you are either a contrarian or will be a victim, according to Rick Rule, CEO of Sprott US Holdings. This cardinal rule underpins Sprott's strategy of seeking opportunities in industries which are effectively in liquidation, with production costs exceeding prices.
It is a bit of a mystery that gold’s role as productive portfolio-diversifying asset is still questioned by so many. During the past 16 years, gold has posted the most consistently positive performance of any global asset, yet is still scorned by consensus.
Buying the Nasdaq represents a risk-on move and I'd argue so does buying bitcoin, a currency that can see swings of over $100 in a few hours.
Toronto homes aren’t that expensive, if you pay in gold.
London's gold benchmark experienced large, unpredictable fluctuations after some banks left the auction that sets the price relied upon by the $5 trillion-a-year bullion market, according to a Reuters analysis of trading data.
Leading junior gold mining ETF the GDXJ is expanding its investing universe in what's known as a "re-balancing", and the effects aren't all positive
Gold traded near a two-week high as the disarray engulfing Donald Trump’s White House boosted the commodity’s allure as a haven, with equities in retreat and investors scaling back the odds of the Federal Reserve tightening policy next month. Other precious metals fell.
From Canada’s Yukon to southern Patagonia, outbreaks of gold-rush fever are popping up as bullion markets stage a tentative recovery.
To be fair there is nothing wrong with the idea of seeking gold hoarded at homes or in bank lockers to be brought into the economy. It was an innovative idea which the government dared to test. Being the second largest buyers of gold, which accounts for more than 25 percent of India’s trade deficit, Indians have persisted in investing in an unproductive asset.
Gold gained Monday, trying for its fourth-straight winning session, and platinum, copper and silver advanced sharply, finding traction after weekend comments from the Chinese leadership about a boost in infrastructure projects and more show of nuclear strength from North Korea.
The platinum market is set to record its first surplus in six years in 2017, Johnson Matthey said on Monday, as a drop in demand from the vehicle industry, jewelers and investors outstrips a smaller fall in supply.
The World Gold Council is working with the Indian government on plans to create a local physical spot-gold exchange that may start up as soon as next year.
(New York City – May 11, 2017) Global silver mine production in 2016 recorded its first decline since 2002, largely the result of lower by-product output from the lead/zinc and gold sectors.
The palladium price is poised to exceed the platinum price for the first time since 2001, Thomson Reuters said on Tuesday with the publication of its GFMS Platinum Group Metals Survey 2017.
The GFMS Gold Survey is recognized as the authoritative source of information on the fundamental developments in the gold market. As we celebrate the Gold Survey’s 50th anniversary, here’s a high-level look at what’s been happening in the gold market for the past half century.
India's gold imports in April more than doubled from a year ago to 75 tonnes on strong demand during a festival that prompts purchases and as jewellers stocked up ahead of a new national sales tax, provisional data from consultancy GFMS showed.
As the earnings season wraps up for North American gold miners, the biggest surprise has been out-sized market reactions, with Kinross Gold Corp. surging the most in almost a year and Barrick Gold Corp. tumbling.
Chinese gold imports jumped 64.5% on an annual basis in Q1 2017, while the production of the yellow metal tumbled 9.3%, as the world’s top gold producer and consumer phased out older production facilities and miners faced lower gold prices, this according to a statement released by the China Gold Association (CGA).
Sprott US Media recently hosted a discussion titled, "Will Gold Trump Politics in 2017?" with Rick Rule, Trey Reik and me, Albert Lu, from Sprott, along with James Rickards, a New York Times bestselling author. One of the key topics discussed was the importance of reviewing a management team when investing in gold miners.
There's reason to believe that the Central Fund of Canada will trade closer to its NAV.
For Maria Smirnova, the dozen years she has worked at Sprott Asset Management have been eventful indeed. The price of gold soared and dipped, the financial system nearly collapsed, the global economy slumped, the firm changed and then changed again.
Net-gold imports by the world's top gold consumer through the port of Hong Kong rose to 111.647 tonnes in March from 47.931 tonnes in February, according to data emailed to Reuters by the Hong Kong Census and Statistics Department.
Less than two months from now, the VanEck Vectors Junior Gold Miners ETF (GDXJ) will witness a dramatic transformation in which more than half of its portfolio will comprise stocks that aren't currently in the fund.
The Direxion Daily Junior Gold Miners Bull 3X ETF is trading at a significant premium to its net asset value, possibly the largest in its history. That's likely a direct result of Direxion suspending its creation units for the ETF on April 13. "The suspension is due to the limited availability of certain investments or financial instruments used to provide requisite exposure to the MVIS Global Junior Gold Miners index," said Direxion in a press release.
Gold will end the year higher, spurred by faster inflation and political tensions in Russia, Syria and North Korea, according to Intesa Sanpaolo SpA, the best forecaster for the metal last quarter.
January-March 2017 has been the best fourth quarter in terms of gold imports since early 2013. Gold imports in the last quarter stood at 230 tonnes, and more than 100 tonnes is estimated to have been imported in March alone.
Earlier this week, the lustrous yellow metal hit a five-month high, closing above $1,270 an ounce for the first time since early November. A quick review of the 27 gold-mining stocks with market caps of $300 million or more as of April 11 shows that 23 are up year-to-date, with 20 of those gold stocks up by a minimum of 10%.
In a Bloomberg survey this week, traders and analysts were the most positive on gold since December 2015. Another bullish sign, prices have climbed above the 200-day moving average and Britain’s Royal Mint said bullion purchases jumped 20 percent in the first quarter.
Gold imports by India are said to have jumped almost seven-fold in March from a year earlier as jewelers stocked up anticipating a demand recovery during the wedding season that began this month and the auspicious Hindu gold-buying day of Akshaya Tritiya.
The U.K. Royal Mint’s gold sales jumped by a fifth in the first three months of the year, according to figures obtained under freedom of information legislation.
Gold demand in India rose this week due to a festival and as local prices adjusted to an appreciating rupee, while higher prices kept a check on demand elsewhere in Asia.
"We maintain high confidence that the eroding quality of U.S. economic growth guarantees that U.S. financial asset prices will eventually reflect their true eroding intrinsic value, to gold’s significant benefit.?
A group of Berlin thieves pulled off an improbable heist early Monday morning, breaking into a German museum with a ladder and carting away a 100-kilogram gold coin named the “Big Maple Leaf” in a wheelbarrow.
Dollar bears are back from the wilderness. The currency slid to the lowest since November on Wednesday, and options show investors are becoming more pessimistic on the greenback versus the euro and yen.
Gold prices rose 8.5% in 2016 to close the year at $1,150 per ounce. This annual rise came after a break of three years. Gold prices slipped in the last two months of 2016 following Donald Trump’s presidential win.
Prime Minister Narendra Modi’s government spent 16 months trying to persuade Indians to deposit their jewelry in the bank to earn interest, in an effort to curb soaring imports of the precious metal. But the program has only lured a tiny fraction of the $900 billion of gold that families and temples are estimated to have stashed away.
Gold prices slipped on Monday as the prospect of imminent interest rate rises kept them near the five-week lows touched last week. However, losses were limited by elections in Europe creating uncertainty and fueling investor buying.
The nearest parallel might be the heavyweight fights between Muhammad Ali and Joe Frazier, which for those who aren’t old enough took place in the early 1970s.
Money manager Sprott Inc. launched a hostile $3.1-billion (U.S.) takeover offer Wednesday for Central Fund of Canada Ltd. (CFCL), the latest battle in Sprott’s two-year campaign to unite rival gold and silver bullion funds.
Kitco News kicks off coverage of the world’s largest mining conference – the PDAC – with Rick Rule, CEO of Sprott U.S. Holdings, who says he remains bullish on gold. “The U.S. dollar is strong and gold is strong simultaneously. That’s only happened twice before in my career and in both cases, the dollar ultimately rolled over and gold went into a sort of sling shot move,” he told Daniela Cambone at the event in Toronto.
The world’s biggest and most powerful money managers usually hate gold. But not today. The latest survey of nearly 200 money managers worldwide, controlling more than half a trillion dollars in investment assets, shows a sudden and rare burst of bullishness about the yellow metal.
A landlocked nation perched between China and Kazakhstan is embarking on an experiment with little parallel worldwide: shifting savings from cattle to gold.
Fans of the precious metal - not shy of a good conspiracy theory - have been deliberating over the move ever since Germany detailed it back in 2013. Initially, there was a sense that trust between central banks had broken down with claims that Berlin was effectively questioning the credentials of New York Federal Reserve.
China’s gold imports from Switzerland soared at the end of last year when Beijing was struggling to defend the yuan and incoming US President Donald Trump was casting grave doubts about Sino-US economic ties.
The latest report by The World Gold Council on global trends in 2016 showed a modest overall increase in demand for the metal, but that was solely on the back of investor purchases of ETFs, primarily on Western markets.
ETF Trends publisher/editor Tom Lydon spoke with Ed Coyne, Sprott Asset Management Executive VP, National Sales, at the Schwab Impact Conference in San Diego that ran Oct. 24-27, 2016.
With gold prices back to one-month highs, investors may consider alternative index-based gold miner ETFs to capitalize on the strengthening bullion.
In partnership with ALPS Advisors, Inc. and ALPS Distributors, Inc. Sprott offers two gold mining ETFs. The Sprott Gold Miners ETF (NYSE Arca: SGDM) and the Sprott Junior Gold Miners ETF (NYSE Arca: SGDJ).