In a video interview with the Investing News Network's senior editor, Andrew Topf, Rick Rule, chairman of Sprott US Holdings, shares his insights on gold prices and why he likes developmental gold juniors for the first time in 20 years.
Articles Tagged "fiscal cliff"
The fiscal cliff may have been averted, causing gold to spike, but it's not all good news for the precious metal, which lost ground on Thursday.
There was little movement in the gold price this week as investors remained focused on US lawmakers' negotiations to avoid the "fiscal cliff."
The approaching fiscal cliff and promising jobs data out of the United States conspired to pull down gold this week. A report from PwC, however, is bullish on the precious metal in 2013.
The looming fiscal cliff has shown that gold does not always respond positively to economic concerns.
Digital Journal reported that sales of American Eagle gold coins tripled in November as both investors and banks braced themselves for the impending fiscal cliff that threatens to trigger over $600 billion of spending cuts and tax increases.
Gold prices were down again this week on continued global concerns about the mounting fiscal cliff. However, investors are using the low prices as a discounted entry point.
Gold prices recovered some losses on Thursday after hitting a three-week low on Wednesday.
Gold prices were stable for most of the week, but faltered on Thursday on European economic and US fiscal worries.
Bloomberg reported that gold prices are likely to climb, while base metals prices fall, driven by investor concerns about the "fiscal cliff".