As gold and silver continue to consolidate their recent gains, one of the wealthiest most street smart pros in the business told King World News that anti-gold propaganda is now failing to impact price and the near-term setup is extremely bullish for gold and the mining shares.

Eric King:  “Rick, as we get ready to kickoff the second quarter of trading in 2017, what is the big picture as you see it?”

Rick Rule:  “I’m feeling unusually attracted to the gold market, Eric.  As you know, I’m hot and cold on the gold equities and gold.  I’m a gold bug but I’m not always bullish on the near-term like I am right now…

Continue reading the Rick Rule interview below…


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Rick Rule continues:  “We’ve seen a healthy pullback in the gold shares while gold has held remarkably steady.  This has happened several times in my career and on most occasions it was near-term bullish.

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I must say that in the face of the strong stock market we’ve seen and relative confidence in the global economic picture, a confidence by the way that I don’t share, the fact that the gold price has held up against those headwinds, at the same time that the gold stocks have underperformed, leads me to believe that both move higher in the near-term.  So I’m pretty attracted to this market, both from the view of the bullion but more particularly in terms of the gold equities.”

Eric King:  “When you look at the global picture, what is going to propel the gold price higher?  Meaning, when you look at the long-term, Rick, what is it about the financial backdrop that makes you bullish on the gold market?”

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Rick Ruel:  
“I think the global narrative is overwhelmingly bullish for gold.  What has impressed me is that despite the headwinds that gold faces from the global stock market bulls and others who are bullish on the global economy, as I said a minute ago, the gold price has held in very, very well.  
Certainly there are some concerning issues in Europe.  And the fact that Britain is seeking to separate itself from the EU sooner rather than later, and the fiscal uncertainties with the extend-and-pretend in Greece, and the upcoming Italian elections, all of these factors present serious problems in terms of the global uncertainty they create.

Of course that type of backdrop is bullish both for the dollar and for gold.  There are between 16 and 18 trillion euros in private hands in Europe, and institutions would like to move about 10 percent of that to the United States.  Initially that may positively impact U.S. Treasuries, but some of that will flow into the gold market as well.  And it’s worthwhile to note that gold has done very, very well in the face of some bullish news for the U.S. dollar.  It is also worth noting that the U.S. has on balance sheet liabilities of $20 trillion, and federal, states and local governments take in excess of $5 trillion each year out of a GDP of $20 trillion, and that is clearly unsustainable.

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So all of the traditional bullish factors for gold are intact, but what is odd is that there are a set of circumstances in the near-term that the mainstream media propaganda machine has labeled as negative for gold, and this hasn’t phased the gold market at all.  So gold is set to rise and the gold stocks are set to head even higher in percentage terms.”…
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