Why Gold Hasn’t Disappointed Rick Rule

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Despite lower gold prices, Sprott Asset Management’s Rick Rule says he isn’t disappointed with the yellow metal. “I’ve seen a room at Motel 6 where an ounce of gold would by you 6 nights, and now an ounce of gold buys you 16 nights. That’s what gold is supposed to do,” he says. “There are people who have different expectations for gold…for people like me, gold hasn’t disappointed at all.” Rule adds that he sees gold as a good store of value. Commenting on the mining industry, Rule is optimistic and says it is actually the best time to be in the business. “From the point of view of a professional investors or professional speculator, these are the best possible times,” he says, adding that in 2020, the current mining industry will be referred to as the “good old days, when things were cheap.” Tune in now to our continued coverage of PDAC 2015 in Toronto, Canada. Kitco News, March 5, 2015.

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