Buy Junior Companies At These Giveaway Prices: Korelin – MMIC13 San Francisco

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Kitco News’ Daniela Cambone sits with Al Korelin to discuss current gold prices and the mining industry. Korelin says no one knows what is happening in the markets now but he thinks the US government officials that are attempting to run the economy do not actually know what they are doing. “I think we are totally in unchartered waters,” he says. “I think the thing that you really want to watch right now is the news that came out from mainland China. I think that’s going to set the tone of the market.” He goes on to say that this news may propel gold prices higher. When asked what he would do with $10,000, Korelin says he would invest in small, junior companies. “I think the prices are absolutely giveaways right now.” However, he stresses the importance of doing your homework as an investor. “These companies have to have proven management… have at least $3.5-5million in the bank and they have to have a proven asset,” he adds. Where would he avoid putting his money? “The conventional stock market because, mark my words, we’re going to see this market crash.” Tune in now to hear more of his thoughts. Kitco News, December 2, 2013.

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