Today’s Pain Is Tomorrow’s Gain: What’s Happening in Precious Metals Right Now - Weekly Wrap Up (Sep 11, 2020)
Pinch-hitting for Eric Sprott this week is Bob Thompson, a Senior Vice President and portfolio manager from Raymond James in Vancouver. Bob and host Craig Hemke break down all the gold and silver news you need to understand the current macroeconomic situation and the ongoing bull market in precious metals and mining shares.
In this edition of the Weekly Wrap-Up, you’ll hear:
- Are real interest rates a good driver for gold prices?
- What to expect from next week’s FOMC meeting
- Plus: What is the mining clock—and where are we on it?
“I think we’re kind of in that ‘back and filling stage’ right now. Nothing goes up forever, so we’ve had a really nice run from last summer, 1350. You’ve got to backfill that now. You have to have people taking profits. You have to have new buyers come into the market…. They’re buying, and we’re going to see gold prices test that 1920 level and maybe even go down from there. But I always say that you’re never going to do well if you don’t take a substantial amount of pain. As we always say in anything we do: no pain, no gain.”
To hear Bob’s full thoughts on the week’s gold and silver news, listen here:
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