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Precious Metals Guru Eric Sprott – Extremely Optimistic on Gold Prices
Posted by: CanadianValue (IP Logged)
Date: November 13, 2012 09:30AM
Sprott is worth listening to because he got into gold back when it was trading at $250 per ounce and has ridden it all the way up to $1,700. Most other classes have been flat over that period while Sprott has made some big profits.
Sprott is still bullish on gold because:
- The physical supply of gold hasn’t increased since 2000 while the demand picture has.
- Money is constantly printing.
He thinks that investing in gold miners is a leveraged way to invest in the commodity. A 10% increase in gold prices generally results in the miners' stock prices moving 20%.
Stocks Discussed: GLD,