Insights

Gold Masterclass

As gold hits new all-time highs and rises above $2,000 an ounce for the first time ever, Sprott and VanEck evaluate what's driving this safe haven asset's outperformance. Sprott's Ed Coyne and VanEck's Ima Casanova look at fundamentals, evaluate equities and share their outlooks.

Insights from 2020

Gold Tops $2,000 and Silver Soars

After touching a record high of $2,075 on August 7, gold bullion closed August at $1,968. Despite this pullback, we see gold well supported above the prior cycle high of $1,900 as it settles into a sustainable $2,000-$2,200 trading level. Both silver bullion and gold mining equities reached multi-year highs in August.

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Gold Needs to "Glow Up"

Gold has powered over $2,000, and we take stock of what has been accomplished by the monetary metal and what may lie next. It has now been established as a baseline that a diversified asset portfolio must include an allocation to gold. No other liquid asset accomplishes what gold does in the way of portfolio insurance and purchasing power protection.

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Demand for Precious Metals Jewelry Runs Deep

The economic fallout from COVID-19 has created a predictable headwind for jewelry purchases around the globe. We anticipate a healthy rebound in time, given that precious metals jewelry (especially gold and silver) is deeply rooted in global cultural norms and traditions. And despite the recent weakness in jewelry demand, metals prices continue to rally given the very supportive macroeconomic backdrop. 

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Gold Attains Escape Velocity

The precious metals complex set off fireworks in July as gold bullion reached all-time highs. Silver bullion and gold mining equities broke through significant long-term resistance levels to further improve their bullish standing. Year to date, precious metals continue to outperform as gold has attained “escape velocity”, i.e., it has gravitationally moved away from other asset classes.*

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The Metal in Britain’s Coins – Where did it come from and how did it get here?

Dr Graham Birch joined the Sprott Board of Directors and has in-depth experience in asset management, especially in precious metals, having been responsible for gold and mining investments at BlackRock in London. Graham has just written a book, "The Metal in Britain’s Coins – Where did it come from and how did it get here?", about the historical origins of the bullion in Britain’s coins, with lessons in it for those who wish to understand the importance of gold and silver as money in a world of paper currencies.

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A Very Fat Pitch

We believe that the macro forces for gold and gold mining stocks have coalesced into what may be one of the 'fattest investment pitches' of our time. A fat pitch is a momentary event, akin to catching a major trend change in the financial markets. Such opportunities do not come around often. They deserve serious consideration and expeditious response.

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Gold Mining Equities: The Perfect Setup

Special guest speaker Carter Worth, Chief Market Technician at Cornerstone Macro, joins Sprott’s John Hathaway and Rick Rule to discuss why gold and gold equities are outperforming traditional asset classes right now. These respected industry experts share their current views on precious metals investing and discuss why both gold and gold stocks have significant potential to move higher, as the precious metals bull market continues to strengthen. 

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Gold Reaches Highest Price Since 2012

Gold bullion continued to deliver strong performance and was up 17.38% YTD through June 30, 2020, and 26.36% YOY. At the same time, gold mining equities (SGDM) have gained 25.88% YTD, and 44.00% YOY as of June 30. This compares to -3.08% YTD and 7.51% YOY returns for the S&P 500 TR Index. Silver posted strong gains in June and is on the move again; silver is up 1.99% YTD and 18.88% YOY as of June 30.

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From Reflecting to Projecting

On the eve of Sprott’s planned listing on the NYSE, CEO Peter Grosskopf takes stock of our history and his decade of tenure as Chief Executive Officer of the firm.

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Consumer Trends Bode Well for Silver

Silver has been on the move since April, although it is still playing catch up to gold in this year’s precious metals rally.  We identify four long-term consumer-driven trends that are positively driving demand for silver, including solar energy, battery-electric vehicles (BEVs), 5G cellular connectivity and antimicrobial applications.

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Gold Equities are on the Move

Ed Coyne, Senior Managing Director at Sprott Asset Management, and John Hathaway, Senior Portfolio Manager, share their views on gold bullion and gold equities. They discuss how the COVID-19 pandemic has changed the landscape and is supporting a rising gold market.

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Pandemic Playbook with Economist David Rosenberg

Economist David Rosenberg believes that investing in a post-pandemic world is shifting our focus from what we want to what we need. Households and businesses are reassessing the importance of savings, liquidity and balance sheet health. Gold has been a "winner" during this crisis.

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In Gold We Trust Report 2020: The Dawning of a Golden Decade

 This year’s 14th edition of our In Gold We Trust report, titled “The Dawning of a Golden Decade”, is being published at the opening of a new decade. As the last decade draws to a close, gold has once again demonstrated its sensitive seventh sense and alerted the keen observer that the general situation in the financial markets is about to change fundamentally.

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The New Normal

After a tumultuous past few months, every asset class appears to be normalizing, including gold bullion. Gold posted steady gains in May with a 2.6% increase. Gold is up 14.04% YTD through May 31, 2020, and 32.54% YOY. At the same time, gold mining equities (SGDM) have gained 18.26% YTD, and 61.70% YOY as of May 31. This compares to -4.97% YTD and 12.84% YOY returns for the S&P 500 TR Index. Silver also posted strong gains in May and is on the move again

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Six Reasons to Own Gold Equities Now

Gold miners have climbed steadily, following the positive path we predicted back in November 2019.  As of April 30, 2020, gold mining stocks were up 11.01% YTD and 57.87% YOY, compared to -12.36% YTD and -7.91% YOY for the S&P 500 Index. In our view, gold mining equities still have a great deal of upside to offer, given that historically gold stocks tend to outperform the metal during gold bull markets (2-3x).

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Changing Monetary Places

Jim Grant in his May 15 Interest Rate Observer discusses gold mining equities with Senior Portfolio Manager John Hathaway, who opines: “Gold shares, in relation to bullion, are the cheapest they’ve been in his 20 years. What astonishes me—I’m an old value investor—is that so many companies are generating free cash flow, and it is not hard to find companies with free cash flow yields of 10% or better.”

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Investing in Crisis

Whitney George, Chief Investment Officer: "You never know what’s going to trip the market ⁠— it wasn’t the trade wars, it wasn’t the impeachment proceedings, it ended up being a virus. But it did deflate the debt-fueled bubble that existed in many assets globally, and as a value investor that should be your time to shine.

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Gold Stocks Take Flight

Gold equities broke out of a multi-year resistance level on massive buying flows in April. Gold miners may be experiencing disruptions due to COVID-19 pandemic shutdowns, but they stand to benefit from a rising gold price. Gold bullion is up +11% YTD and +31% year-over-year (through April 30, 2020). 

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The New Era

We propose that gold is not only a financial hedge to government monetary and fiscal policies, but it is also a mandatory portfolio and household diversification asset....Gold is first and foremost, a store of value. We believe there is fundamental support for a qualified currency to exist outside of government-led debasement. Gold is more legitimate and efficient than any other alternative currency.

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Secular Gold Bull Resumes with Force

Gold is on the cusp of breaking out to all-time highs in U.S. dollars and has already done so in virtually every other currency. Gold mining stocks continue to lag the metal and, in our opinion, represent a compelling investment opportunity. The COVID-19 pandemic panic was merely the black swan that punctured a financial market asset bubble that took almost a decade to inflate.

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Silver Outlook is Bullish

The silver market is in the throes of several changing trends as the COVID-19 pandemic upends the global economy. When the dust settles, we see a bullish case for silver prices, as investment demand ticks upward while supply constraints linger.

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GOLD in the New Financial Landscape

Sprott's Ed Coyne, Whitney George and John Hathaway provide in-depth analysis on gold and gold equities. The COVID-19 pandemic has created a new financial landscape, where returns from traditional financial assets, could be subpar for many years. By contrast, the crisis continues to highlight gold’s value as a safe haven investment.

 

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An Investor's Primer on Gold

Rick Rule, President & CEO, Sprott U.S. Holdings provides a timely primer on gold's place in investor portfolios: "I think it’s important to say that the wind is very likely in gold’s sails. The macro set of circumstances strongly favors gold."

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March Roars in Like a Lion

March 2020 will go down in history as one of the most tumultuous ever for capital markets. For the first time in over 100 years, a global pandemic has struck with devastating results. Gold continues to deliver strong relative performance and was up 3.95% on a year-to-date basis through March 31, 2020, compared to -19.60% for the S&P 500 TR Index. The need for a safe haven asset like gold, that represents a store of value during crises has never been greater.

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Gold Continues to Prove its Safe Haven Status

Jason Mayer, Senior Portfolio Manager, recaps the past two weeks: "We were not surprised by the recent selloff in gold bullion and precious metal equities. During violent broader market corrections, liquidity is priority number one....the unprecedented monetary and fiscal stimulus in response to COVID-19 should debase fiat currencies while providing a tremendous tailwind for gold bullion and gold equities."

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Palladium: An introduction for Platinum and Palladium Investors

Read the latest intel on Palladium from the World Platinum Investment Council. The spectacular increase in the price of palladium since 2016, in particular during 2019, attracted widespread interest from investors, industrial users of palladium and market commentators. It also highlighted the importance of understanding the palladium market when considering an investment in palladium or platinum.

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A Paradigm Shift

Whitney George reflects on markets and the COVID-19 crisis: "We are in a paradigm shift right now, one that may have taken us all a bit by surprise. I expect that central banks will shortly provide the liquidity required to settle the markets, an accomplishment that will be very favorable to gold."

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Keep the Faith

We believe that gold provided what it should during times of crisis, a form of insurance to cash in when liquidity is required. We are comforted that throughout this "policy payout," gold has mimicked its performance in the GFC, during which it was first sold down by holders requiring funds for other purposes and then skyrocketed once liquidity was rebalanced and QE began in earnest. We believe that long-term investors, not subject to margin pressures, will be similarly rewarded by owning gold at this time.

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Point of No Return

We think gold has been sensing the endgame for Keynesian policy prescriptions, mainstream economic thinking and hyper-leveraged investment practices....At the moment, mining company valuations appear extraordinarily cheap. It is one of the few industries that will report solid year-over-year earnings gains for the remainder of this year and perhaps into the next. Buying low is never easy but now is the time to do it.

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COVID-19 Message from Sprott CEO

"As events unfold, it is vital that we communicate what Sprott is doing as we navigate the uncertainty caused by the COVID-19 outbreak. We remain committed to our employees and clients throughout this challenging period. We have weathered many such periods in the past, and we are confident that our depth of experience and dedication will see us through."

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Just What We Didn't Need: An Oil Price War

Donald Luskin: "OPEC failed to cut production on Friday to track slack demand in the Covid-2019 crisis. Now it looks like the opposite: a price war between Saudi and Russia in which the U.S. will be collateral damage."

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Gold Bullion Stages Major Breakout

The Fed made a surprise interest rate cut of 50 basis points on Tuesday, March 3, and gold bullion closed the week higher, above $1,670. This follows gold's February breakout from the critical $1,585/$1,600 overhead resistance range that we have highlighted for several months. 

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Systemic Risks Exposed

Last week’s selloff created an extraordinary buying opportunity. We believe that even a small, incremental increase in investor focus and capital flows will drive the low valuations of precious metals mining shares considerably higher.

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How To Build A Business out of an Asset Class Everybody Wrote Off for Dead

Institutional Investor interviews Sprott CEO Peter Grosskopf to discuss the firm's recent acquisition of the Tocqeville Gold Fund and the firm's deep commitment to the precious metals space. 

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Gold 2020: The Rally Continues

Ed Coyne, Sprott Senior Managing Director, joins Liz Claman to review gold's bold move in 2019. Coyne shares Sprott’s 2020 outlook for gold bullion and gold equities, and explains that attitudes are shifting: Investors have traditionally invested in gold as a complement to equity portfolios, but are now viewing the yellow metal as an alternative to cash and bonds.

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Sprott’s 20/20 Vision on Gold & Gold Stocks

Gold began to shine in 2019 and continues to climb in 2020. We believe we are in the early stages of this gold rally, and discuss our bullish 2020 outlook and explain why investor interest in gold and gold stocks will likely continue to grow.

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2020 Top 10 Watch List

Gold bullion rallied 4.7% in January, on the heels of 2019's 18.31% rise. Our 2020 Top 10 Watch List outlines what gold investors should pay attention to given our long-term bullish outlook for the precious metals complex. 

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No Way Out

Hathaway: "Going forward, unless the Fed continues to expand its balance sheet, it risks a meltdown in equity and bond prices that could exceed the damage of the 2008 global financial crisis....With continued advances in gold prices in 2020, the return potential for gold mining shares — the still unloved orphans and pariahs of the investment universe — should prove to be very compelling."

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Gold Investing 2020 with John Hathaway & Doug Groh

John Hathaway and Doug Groh, Portfolio Managers of Sprott Gold Equity Fund, discuss the current dynamics in the gold investing space and our positive outlook for 2020. 

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Sprott Bulks up Gold Investment Team Ahead of Expected Gains in Gold

Peter Grosskopf, CEO of Sprott, joins Jon Erlichman of BNN Bloomberg to discuss his expectations for the gold sector in 2020, and why Sprott has bulked up its investment team by acquiring Tocqueville Gold Strategies.

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Precious Metals and Miners Soar in 2019

2019 marked the best performance for the precious metals complex in nearly a decade. Gold bullion closed the year at $1,517 (gaining 18.31% for the 12 months). Silver bullion ended the year at $17.85 (up 15.23% in 2019). Platinum climbed 21.56% in 2019, and palladium soared 54.24%. Gold mining equities showed notable strength, finishing 2019 up 46.97% as measured by Sprott Gold Miners ETF (SGDM).

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| 2020 | 2019 | 2018 | 2017

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