If you think Donald Trump has been good for the stock markets and the North American economy as whole, then buying a gold royalty stock is a good idea. Afterall, gold has risen by 18 percent in a YOY basis and it seems to still have momentum due to the uncertainty that the market is facing currently.
On the other hand, if you think Trump is a kook and we’re all headed for economic doom, then also go for gold – bullion is considered the undeniable safe-haven asset during times of financial and geopolitical uncertainty.
What was also undeniable was the general sentiment from gold explorers, metals & mining analysts and the
economists who spoke earlier this week at the
Vancouver Resource Investment Conference 2020 (VRIC), and it’s their belief that current U.S. administration is very bullish on accelerating mining exploration. And that’s good for gold. Especially gold explorers…at any stage of development. So whether you’re investing in the price of gold (with the obvious expectation that it continues to go up), a gold royalties company, or on an early stage exploration project, the current USD$1600 price threshold is very attractive for any company looking to prospect, mine, extract, smelt and refine the iconic precious metal.
Kitco’s Ultimate Gold Panel, moderated by
Daniela Cambone, played to a packed house at the sprawling Vancouver Convention Centre West Speaker Hall and featured mining and financial industry legends
Grant Williams,
Peter Schiff,
Rick Rule, and
Frank Holmes.
Kitco’s Ultimate Gold Panel VRIC 2020. Left to right: Daniela Cambone, Frank Holmes, Rick Rule, Grant Williams, and Peter Schiff. Monday January 20, 2020. Photo by Dave Jackson / Stockhouse
And one panelist wasn’t shy to share his feelings on the current resident of the White House or his possible successor. According to Peter Schiff, CEO of Euro Pacific Capital, and speaking to Kitco News on the Sidelines, “I think if Trump is not re-elected, if we get like, President Sanders, gold should go above US$2,000 this year, and if it’s not above US$2,000 by election, it should be US$2,000 election night once we get the results.”
And the proof appears to be in the proverbial pudding. Gold prices rose to a two-week high on Tuesday as a new strain of pneumonia in China fueled fears of a wider epidemic that could hamper economic growth, igniting a sudden bout of risk aversion and a sell-off in Asian stocks.
And with the chronic troubles besetting the middle east, this mysterious coronavirus global health emergency, and Trump’s ongoing impeachment trial, times of trouble call for a reliable safety net. And for millions of investors, gold is like a trusty retriever. Golden…of course.
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