If Buying Metals, Buy Physical: Gold Bear — MMIC13 San Francisco

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Kitco News’ Daniela Cambone sits with managing director of Oreninc Benjamin Cox to get his interesting take on the precious metals and explains why he prefers rhodium. “I’m coming with a bearish stance, in particular to gold. I am bearish gold,” Cox says. He goes on to say that he thinks too much of the yellow metal is leveraged and for that reason he continues to be bearish. “I am fundamentally not bullish on gold because the entire reason people are buying it, which is for protection in an inflationary environment, I think it’s going to be sold into [that] environment versus necessarily protecting [against it],” he adds. What metals does he like? Cox says he likes the PGMs because during an economic recovery, platinum, palladium and rhodium, among other metals, will be consumed more for industrial production purposes. Under that same circumstance, gold would be punished because people will be putting more of their money in “live” assets, he adds. Cox ends by telling viewers that if they are going to buy metals, they should buy physical. Watch now to hear more of our coverage of the Metals & Minerals Conference in San Francisco. Kitco News, November 28, 2013.

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