RE: Rick Rule, Part III: On Gold
Gold
Gold remains at the verge of the historic $1000 mark. Barrick’s CEO commented to the media that even at such high levels, Barrick will not be hedging due to their anticipation for even higher prices. Russian gold and currency reserves rose by $7 billion this past week, to stand at $490.7 billion. Indian February gold imports fell sharply over the last while as the market appears to be seen as expensive.