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."