Loading ...(Kitco News) – The only investment traders can safely bet on going up is gold, said Eric Sprott, billionaire precious metals investor and founder of Sprott Inc.
“What’s going up? One thing — gold. And silver. That’s what we would expect to happen. It’s impossible to tighten monetary policy with the situation the [Fed] left us in,” Eric Sprott said during Sprott Money’s Weekly Wrap-Up on Friday.
“Everything points to gold. We are within the spitting distance of a new high here. We are very close to setting the record straight that gold’s gone up for two years and we might start launching into much higher and loftier regions as the stock market unfolds,” Sprott said.
And it’s not just about physical gold for Sprott, who noted that there is leverage in gold stocks. “A $100 increase in the price of gold would add 25%-50% to their profits. The stocks are basically at their lowest. The stocks [will] rally very quickly when they go. I’m positive,” he said.
cont. http://www.kitco.com/news/2018-03-25/Gold-Is-Within-Spitting-Distance-Of-A-New-High-Eric-Sprott.html