Sprott’s Charles Oliver Sees the Shine Returning to Metals
Has the gold price hit bottom? Charles Oliver, senior portfolio manager with Sprott Asset Management, believes that the fundamentals are in place for gold to vault from its downturn—possibly topping $2,000/oz in the next year. In this interview with The Gold Report, Oliver explains his outlook and talks about why he’s been adding small-cap miners to his portfolio.
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After falling by more than 20% from its recent highs, gold is now nearly 20% off of its lows.
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It’s been tough to be a gold investor. The yellow metal is the worst performing commodity this year, falling 21% since January 1.
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The price of gold will soar to $2,500 an ounce within the next two years as inflationary factors prop up the precious metal, U.S. hedge fund activist Eric Rosenfeld tells BNN.
This comes as the price of gold recovers from a massive selloff on Monday which saw the yellow metal shed nine percent of its value.
Gold was currently hovering around the $1,370 an ounce mark on Tuesday.
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SIGNS OF THE TIMES:
“Red Hot Housing” “U.S. Housing Giant Has Awakened”
– Financial Post, March 16
“Slovenia’s dollar-denominated benchmark bonds declined, pushing yields to the highest level this year as bailout risks increase.”
– Bloomberg, March 22
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As a metals broker I am always asked about storage. I have rather strong feelings about this topic and I always advise people the following:
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There are few mining sectors where chemistry, metallurgy and the supply chain meet in such a complex yet potentially profitable way as rare earths. Companies must keep an eye perpetually toward the future, making prescient judgments about end-user demands and constantly evolving technologies. In this interview with The Critical Metals Report, Gareth Hatch, founding principal of Technology Metals Research and president and director of Innovation Metals Corp., gives an update about which projects are closest to production and which have the right recipe to entice customers.
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Rare earth metal prices have fallen sharply since mid-2011, some declining by as much as 80% as expectations of rising supplies coincided with declining demand. More recently, prices have shown signs of stabilising. Chinese restrictions on mine output and plans to stockpile materials, coupled with the increased likelihood of problems at mines outside China may mean rare earth metal prices are about to rise.
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