Welcome to Capital Account. In the summer of 2011, during the US debt ceiling debate and credit downgrade, gold topped 1900 dollars an ounce. However, since then the price has dropped, despite the types of news events that usually drive investors to gold. Plus, according to the World Gold Council, central banks will buy more than 500 tons of gold this year, up from 465 tons in 2011, a new high. Why has the yellow metal been trading sideways for the past year and a half as the S&P 500 has gained a very respectable 25 percent? We talk to commodities legend Eric Sprott about gold and silver, and where he sees prices headed over the next decade.
And despite the recent stagnation in the price of gold, the metal has been in a bull market for more than a decade. But how much of the run-up in gold is driven by factors we talk about every day (such as QE and debt downgrades), and how much is driven by issues such as the 20-year bear market in gold that preceded the recent run, as structural supply changes forced the inevitable price adjustment that we see today? We talk to Eric Sprott, CEO of Sprott Asset Management, about how he has weighed these factors over the years.
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Check out these similar articles:
- Eric Sprott: This Will Be the Decade of Silver- Silver/Gold Ratio Can?t Stay at 50:1
- Eric Sprott: Debt Crisis Incredible for Gold, World May Return to Gold Standard
- Eric Sprott: Suppression Game Cannot Go On Forever, Gold Will Go Crazy with War in Middle East
- Eric Sprott: Western Central Banks Have No More Gold?Only Gold Receivables!
- Eric Sprott?s Full Presentation at Manhattan Investorium
Source: http://www.silverdoctors.com/eric-sprott-silver-to-outshine-gold-as-the-investment-of-this-decade/
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