Kitco News kicked off coverage of the world’s largest mining conference – the PDAC – with Rick Rule, CEO of Sprott U.S. Holdings, who says he remains bullish on gold.
“The U.S. dollar is strong and gold is strong simultaneously. That’s only happened twice before in my career and in both cases, the dollar ultimately rolled over and gold went into a sort of slingshot move.”
“Is that going to happen this time? I don’t know but if past is prologue, I think it’s happening for the same reasons, so yes, I’m bullish.”
Sprott most observant comments on the industry as a whole was as follows:
“People spent money imperfectly when it was too cheap to them, and going through four years of hard times, the exploration work that we’ve seen relative to the exploration expenditures over the last year, has been really really good work, which is really nice, I hope it continues.”