Rick Rule – A Look At 2017 And What Sprott Asset Management Is Doing With Our Clients’ Money Right Now
After the decline in gold and silver, today one of the wealthiest and most street-smart pros in the business spoke with King World News about what they are doing at Sprott Asset Management with their money right now.
Eric King: “Rick, you had predicted that we would be weak in the metals and mining shares into the end of the year — your thoughts on what’s happening?”
Rick Rule: “It’s interesting because the markets reversed in the sense that the industrial materials markets, which were weak, have become a bit stronger, while the gold and silver markets, which were strong for the the first 7 months of the year, have become weaker…
Rick Rule continues: “I think a lot of that is due to the emotions and the narrative surrounding the Trump victory. People are trading the narrative that America will be great again, so the U.S. dollar is very strong and gold has weakened as a consequence. There is a sense that between the Chinese Silk Road and the planned infrastructure spending by Trump that this will drive demand for industrial commodities and at the same time this will strengthen the world economy. I think those premises are wrong.