Monday, October 16, 2017

Gold is still in a Bull Market even in US Dollar terms

"The monetary authorities are all still remaining expansionary. Gold has been rallying in dollar terms. It has been a bull market since December. And it is still a bull market. The last rally took us from $1,200 to $1,370. And the fact that we are now below $1,300 is relatively inconsequential.

If you are not long, you should use this weakness we have had in the past two weeks to be a buyer, no question.

Gold will be demonstrably higher then where it is right now. $1,400 is a reasonable expectation. I am not a gold bug. I don't believe the world is going to come to an end. I don't think you own gold because you think governments are going to be collapsing around the world."

On the potential for upcoming Fed Rate Hikes 

"[Rate Hikes] is going to take five or six years. This is not something that will occur overnight."

Thursday, October 12, 2017

Stocks look extremely expensive - This can end badly

"I don't care which valuation you put upon it — price to earnings, price to book value, margin usage, the market is extremely high, as I have said before. It is a bull market, you are to be long, but you cant be very long. These things will end. And it will end badly when it does end. It has been a protracted bull market, that I think is extremely overextended."

via CNBC