With some volatile trading in the US dollar and oil near $74 a barrel, today Rick Rule told King World News that the current situation in the gold market is extremely rare.
Mining Companies Making Moves
July 9 (King World News) – Rick Rule: “The fact that we are starting to see increasing participation by mining companies in the open market (such as Goldcorp’s purchase of 7.3 million shares of Gold Standard Ventures), where they have no added inducement to buy, is extremely important from my own point of view…
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Rick Rule continues: “If you add to that important observation the very recent merger and acquisition activity we’ve seen — the takeover of Dalradiun by private capital and the takeover of Arizona Mining by South32 — I think it’s testimony to the fact that while momentum isn’t in this (resource) market, while speculators are deterred from lack of volume and lack of momentum, value-oriented and industry investors are attracted to the fact that it’s cheap. At least the best companies are cheap.
And the value proposition of gold relative to US Treasuries makes me continuously bullish about (the price of) gold, although I can’t tell you very much with regards to the timing. I would suggest for your readers and listeners that they spend a little less time worrying about the gold market and think a little bit more about their reasons for owning gold and their reasons for participating in the market.
This Situation Is Extremely Rare
I have told people for many years that speculating in gold can be dangerous because it’s your time frame that matter to you. Saving in gold is non-risky. Buying gold because you believe that gold is an insurance product is always non-risky. I would take that further, however, by saying that gold stocks are almost never cheap. They are usually relatively expensive. And periods of time where the gold stocks are attractively priced relative to the bullion is rare, and this is one of them.” KWN has just released the powerful audio interview with Rick Rule discussing the gold, silver, crude oil, uranium and mining share markets and you can listen to it immediately by CLICKING HERE OR ON THE IMAGE BELOW.
ALSO JUST RELEASED: Greyerz – Crushing Debt Will Usher In A Global Implosion CLICK HERE TO READ.
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