Insights

The Gold Investment Thesis Revisited

Defensive investment strategies are few and far between. Fixed income, debased by artificially low rates, no longer passes muster. Selling volatility to generate income seems like a form of insanity. Gold is the obvious answer. Whether in physical form or precious metals mining shares sporting good dividend yields and trading at depressed valuations, this unwanted investment strategy will prove seaworthy for all conditions.

Insights tagged: Gold

Gold Holds on to Support as Yields Rise

Gold prices finished March at $1,708, closing off a difficult quarter on the heels of gold's positive, record year. COVID-19 vaccine rollouts in the U.S. encouraged market optimism which was reflected in rising U.S. Treasury yields and a strong U.S. dollar. Despite the cheerier economic outlook, the long-term risks associated with trillions of dollars of economic stimulus, and mounting debt, provide ample support for our bullish metals outlook.  

Read More

Taper Tantrum Takes a Bite Out of Gold

February was a tough month for gold. Bond selling spiked into near panic mode and triggered a multi-asset sell-off into month-end. It was an uncomfortable replay of the 2013 Taper Tantrum in condensed form. Gold was not spared, but long-term trends remain in place for our bullish gold view.

Read More

Owning Gold and Precious Metals Doesn’t Have to be Taxing

For many U.S. investors the returns provided by owning physical gold — and the other precious metals including silver, platinum and palladium — come with a sobering surprise when the assets are sold and it’s time to pay taxes. The reason: The U.S. Internal Revenue Service (IRS) categorizes gold and other precious metals as "collectibles" which are taxed at 28%. Most other types of long-term capital gains are taxed at 15%-20%.

Read Article

Silver Fundamentals Shine Bright

The silver market is abuzz in 2021. After climbing more than 47% in 2020, silver continues to play catch up to gold. Growing investment and industrial demand have driven up silver prices and created supply shortages, especially for investors looking to buy the physical metal. Silver ETFs have enjoyed record flows.

View Webcast

While Gold Pauses, Silver Takes Off

Gold started the year strongly, reaching almost $1,960 before dropping quickly back to support above the $1,800 range. We have been long-term bullish on silver, which has surged to an 8-year high. The Reddit crowd may accelerate this silver rally to extreme levels, but we can continue to make a strong fundamental case for silver that does not require any short squeeze schemes (real or imagined). 

Read More

One of the Greatest Bubbles in History

The fate of the stock market and the outlook for gold are more intertwined than most realize. Gold has been performing well, but its outperformance is a well-kept secret. If a general bear market sets in, more investors will embrace gold and gold mining stocks. In the meantime, macroeconomic and valuation factors continue to build in gold's favor.

Read More

2021 Top 10 Watch List

2020 was a tremendous year for precious metals. Gold bullion gained 25.12%. Silver bullion rose 47.89%. Palladium climbed 25.86% and platinum increased 10.92%. Gold mining equities were up 21.96% and gold junior mining stocks rose 48.53%. We expect the precious metals rally to continue in 2021 and offer our Top 10 list for investors. 

Read More

Investors Won't be Able to Ignore Gold Miners in 2021

In a recent interview with Kitco News, John Hathaway, Senior Portfolio Manager of Sprott Gold Equity Fund (SGDLX), said that with significantly improved margins, rising gold prices and healthy production, investors can't ignore the value currently being generated in the mining sector for much longer. 

Read Article

Precious Metals and the Fight Against COVID

As COVID spread in 2020, investors embraced gold and silver as portfolio protection. But the role of these metals extends far beyond this. We explore how precious metals are helping to medically combat the virus and identify several innovative disease-fighting applications that depend on gold, silver, platinum and palladium.

Read Article

Time for Gold Equities to Shine

Ed Coyne joins Asset TV for a deep dive into gold and gold equities. Coyne shares his 2021 outlook and sheds more light on gold equities and what makes the junior mining story so attractive.

View Video

$18T Reasons to Give Gold for the Holidays

There are several macro-economic reasons why gold may make the perfect gift for the holidays....including the $18 trillion dollars of negative yielding debt in the world today, which is nearly equal to the size of the U.S. economy. Bonds are no longer a portfolio risk mitigator, and if you don’t hold some gold, silver and other precious metals assets, you should.

Read Article

A Yuletide Present

Investing in gold and silver mining companies is challenging but offers substantial rewards for investors with an edge. After two great performance years, in which gold mining equities outperformed the S&P 500 Index, these stocks are still relatively inexpensive. At Sprott, we rely on a broad team led by very experienced portfolio managers, in the fashion of a collective basket of mining DNA.

Read More

Gold Prices Have Soared. Expect More of That in 2021.

Gold prices have climbed sharply in 2020...The moves cap a year rocked by a pandemic that led to economic restrictions and fiscal stimulus measures, feeding the precious metal’s appeal as a haven investment. Sprott CEO Peter Grosskopf sees the recent pullback in gold as “a healthy correction and a buying opportunity” for investors.

Read Article

Closing the Books on 2020: Gold, Silver, Platinum and Palladium Opportunities

2020 has been a breakout year for precious metals. The uncertainty and risk-off sentiment created by the global COVID-19 pandemic have increased the luster of precious metals. Both gold and silver ETFs have enjoyed record flows. In this webcast, we explore the key benefits of precious metals investing in the current environment.

View Webcast

Gold Tests $1,800 Support

Precious metals took a post-election pause in November. Gold bullion lost 5.42% but is up 17.11% YTD and 21.38% YOY through November 30, 2020. Silver bullion lost 4.28% in November but has risen 26.84% YTD and 32.99% YOY. The macroeconomic fundamentals remain intact to support a continuation of this year’s precious metals rally. We see this correction as an attractive yearend, seasonal buying opportunity. 

Read More

Gold's Nuclear Winter Has Ended

Tom Bodrovics, a host of Palisades Gold Radio, welcomes returning guest John Hathaway of Sprott. Hathaway says, “the setup for gold is so incredible. It's the best I've seen it in my 20 plus years of gold investing.” Hathaway explains why traditional portfolio weightings no longer work, given that bonds today are "return-free risk".  Gold can provide an alternative to bonds, and Hathaway explains how a relatively small move in the gold bullion price can have an outsized impact on gold miners' profit margins and the value of their stocks.

LISTEN NOW

Gold Wave Likely Regardless of U.S. Election Outcome

With building anxiety over the U.S. presidential election, investors stepped away from markets in October, including gold bullion and mining equities. The uncertainties of the election and COVID-19's surging second wave have created a "risk mitigation" type market. The gold bull market remains intact and both gold bullion and mining equities are well-positioned under most plausible election scenarios.

Read More

Being a Doyen is a Good Thing, Right?

Stephanie Pomboy and Grant Williams, hosts of the popular podcast Super Terrific Happy Hour, interview a true legend of the precious metals industry, John Hathaway. The three discuss Hathaway's storied career, how John's experience of multiple market cycles has helped him successfully maneuver the precious metals space and what he expects going forward.

Listen Now

2020 vs. 1968: This Too Shall Pass

With gratitude for a career on Wall Street that has spanned more than 40 years, I have experienced plenty of history. Looking back for an analog to this past year, in many ways, 1968 was a year on par with 2020. As a society, we survived and were able to move forward and grow from the experience, and we benefitted from positive investment lessons learned in the aftermath of 1968. This too shall pass.

Read More

Gold, The Simple Math

The current pullback in the precious metals sector is a buying opportunity. It is possible that gold and gold mining shares could continue to chop sideways-to-lower until the U.S. presidential election results are known and even into yearend as the implications are sorted out. We believe that now is the time to start layering in gold exposure, not when the rest of the world tries to do so.

Read More

Gold Rally Over or Just Getting Started? A Technical Perspective

Sprott Market Strategist Paul Wong explains how technical analysis provides future guidance on the direction of gold markets and indicates that gold bullion and gold stocks have substantial room to move higher. He also explains why gold may be a more effective portfolio diversifier in this environment.

View Webcast

Gold's Breather Creates Buying Opportunity

Markets experienced the first post-COVID meaningful correction in September as investment fund exposures were reduced, resulting in a contraction in market depth and liquidity. Despite September's profit taking, gold bullion posted its eighth straight quarterly gain. We see this as a buying opportunity for precious metals investors.

Read More

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.

View Video

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.

Read More

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.

Read More

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. 

View report

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.*

Read More

We Are Calling for Gold to Break into the 2,000s for all of Next Year

Sprott CEO Peter Grosskopf joins BNN Bloomberg to discuss the gold rally and what he expects for the commodity in the back half of 2020 and 2021.

View Video

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.

Read More

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 learn 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. 

View Webcast

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 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.

Read More

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.

Read More

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.

View Video

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.

View Webcast

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.

View Report

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 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

Read More

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).

Read More

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.”

View Article

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). 

Read More

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.

Read More

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.

Read More

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.

 

View Webcast

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.

Read More

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."

Read More

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."

Read More

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.

Read More

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.

View Report

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. 

Read More

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.

Read Update

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. 

View Article

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.

View Video

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.

View Webcast

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. 

Read More

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."

View Report

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. 

View Video

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.

View Video

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%.

Read More

Sprott CEO Says Junior Gold Miners are Set for Major Acquisitions Next Year

Peter Grosskopf, CEO of Sprott, joins BNN Bloomberg for a look at M&A activity within the Canadian gold sector. Grosskopf says that while big-name gold miners like Barrick and Newmont have gone through notable acquisitions this year, we are likely to see a significant number of junior miner acquisitions in 2020.

View Video

Gold’s Pullback is Just a Pause

November marked the third month of consolidation for gold bullion and gold equities. We see this as a pause in a long-term bullish trend: YTD gold bullion has gained 12.69% and gold equities are up 33.35% as of 11/30.

Read More

Five Reasons Why Gold Stocks Make Sense

Gold mining stocks have soared approximately 30% so far in 2019, based on the performance of the NYSE Arca Gold Miners Index (GDM) as of November 15.1 Over the last 12 months, the sector is up nearly 50%. Some investors may assume that gold stocks have run their course. On the contrary, we think that the gold mining equities still have a great deal of upside to offer.

Read More

Video: Gold's 2019 Breakout – It's Just Getting Started

Gold bullion has seen a double-digit YTD advance in 2019, and gold mining equities have also posted notable returns. Tocqueville Asset Management's John Hathaway and Ryan McIntyre join Ed Coyne, Senior Managing Director at Sprott Asset Management, to discuss their outlooks and suggest the optimal gold portfolio allocation for most investors.

View Video

The Sweet Spot for Gold Equities

Gold bullion consolidated in October, closing the month at $1,513, a 2.75% gain; YTD gold is up 17.97% as of 10/31/19. Silver bullion rose 6.55% for the month and has gained 16.86% YTD. As gold companies report Q3 earnings in the coming weeks, we expect robust earnings results to lift gold equity prices. The timing may be favorable as we are also heading into the best consecutive four-month seasonality pattern for gold mining equities.

Read More

Gold: The “Third Rail” of Capital Allocation

This Real Vision video features John Hathaway, Senior Portfolio Manager of Tocqueville Asset Management, being interviewed by Dan Tapiero of DTAP Capital. They take a closer look at gold’s recent breakout and explore why gold equities are so attractive right now.

View Video

Sprott CEO Says Gold Pullback Not Surprising, Sees Trouble Ahead for Economy

Peter Grosskopf, CEO of Sprott, shares his outlook for gold and the economy with Bloomberg's Shery Ahn and Amanda Lang on Bloomberg Markets.

View Video

Capturing the Breakout in Gold and Gold Stocks

We believe the precious metals bull market is just in its early stages. Ed Coyne, Senior Managing Director, National Sales at Sprott Asset Management, joins special guests Doug Groh and Ryan McIntyre, Portfolio Managers at Tocqueville Asset Management, to discuss their outlooks for gold bullion and gold equities, and suggest the optimal gold portfolio allocation for most investors.

View Webcast

Gold’s September Pullback is Healthy

Given gold’s sharp rise since May, September’s correction was not unexpected. We believe it is reflective of a new consolidation phase, and likely to be short term in nature. All factors that we consider to be significantly correlating to gold bullion indicate that we are still in the early stages of a major long-term advance.

Read More

Owning Gold and Precious Metals Doesn’t Have to be Taxing

For many U.S. investors the returns provided by owning physical gold — and the other precious metals including silver, platinum and palladium — come with a sobering surprise when the assets are sold and it’s time to pay taxes. The reason: The U.S. Internal Revenue Service (IRS) categorizes gold and other precious metals as “collectibles” which are taxed at a 28% long-term capital gains rate

Read More

Negative Rate Folly

In our view, gold’s role as a non-correlating store of value has rarely offered more portfolio utility than it does today....The most troubling legacy of contemporary central banking has been the emergence of negative nominal interest rates. The fact that they actually exist, only highlights the dire nature of global financial imbalances. 

Read More

Gold Soars in August to Best S&P 500 YTD

Gold added $110 in August to close the month at $1,524, gaining 7.8% for the month. YTD gold is up 18.6%, ahead of the S&P 500 Index's rise of 15.34%. Gold equities impressed even more, climbing 46.4% YTD.

Read More

Minsky Moment

Gold is clearly responding to a global pivot by central bankers back towards concerted monetary easing, and the intractable nature of excessive global debt levels suggests we are in the very early innings of the developing easing cycle. In short, for gold this is the real deal and we suspect things are just getting started.

Read More

The Rebirth of Gold as Money

The debate over gold’s place in a modern investment portfolio has been well covered. Call it the “Pet Rock” versus the “End of Fiat Currency” grudge match. But the facts are not subject to such intense interpretation....An enormous transformation of the gold market can occur once digital gold attracts the volumes needed to make it a serious business.

Read More

We're Working in 'Completely Different Environment' Amid Strength in Gold

Shares of Sprott (TSX: SII) have posted big gains this year as gold prices continue to climb higher. Sprott CEO Peter Grosskopf joins BNN Bloomberg to discuss his outlook for the precious metal and the firm's acquisition of Tocqueville Asset Management's gold business.

View Video

Gold Rally Strengthens on Rate Cut, Silver Follows

July was positive for both gold and silver, which were propelled by the Fed’s interest rate cut on July 31, its first cut in 11 years. Any hope that this is a "one and done" rate hike has quickly been dashed with the latest U.S.-China trade war salvo. The long-term picture remains firmly intact. Gold and silver continue to rise as the market adjusts to a new central bank easing cycle.

Read More

Gold and Silver Breakout – What Next?

We predicted that 2019 could surprise to the upside. YTD, through the Friday, July 19 close, gold bullion was up 11.14% and silver bullion has gained 4.58%....The wind is now at our backs and we believe that both gold and silver will climb higher. Silver, in particular, has the potential to significantly outperform gold.

Read More

Gold Continues Bullish Consolidation

Last week, gold bullion continued its bullish consolidation ($1,380 support, $1,440 resistance), and gold equities recovered to touch new 52-week highs as Federal Reserve Chairman Jerome Powell reaffirmed the likelihood of a July 31 interest rate cut.

Read More

Gold Tests $1,400 Breakout

To recap gold’s positive trend, gold continues to trade above the $1,370/80 per ounce level which verifies a critical multi-year base breakout. Gold’s rise has been impressive as multiple assets have corroborated the move, and the price action on many gold-related assets has been emphatic.

Read More

Building Shareholder Value in the Gold Mining Sector

Ryan McIntyre, Portfolio Manager of Sprott Hathaway Special Situations Strategy, discusses how intrinsic value creating activities are likely to continue across the gold mining industry: "Both large and small companies are examining many alternatives to add value independently of the gold price."

Read More

Gold & Precious Metals Investing with Sprott's Ed Coyne

Charley Wright of Strategic Investor Radio interviews Ed Coyne, Senior Managing Director at Sprott. They discuss Coyne's unconventional career path from architecture to finance, and explore why precious metals are one of the best alternatives for investor portfolios.

Listen to Podcast

In Gold We Trust Report 2019: Gold in the Age of Eroding Trust

Sprott is pleased to be a major sponsor of the Incrementum's 13th edition of the annual In Gold We Trust report. Authors Ronald Peter Stoeferle and Mark Valek explore the erosion of trust in international monetary policy: "The steady buying of gold and the repatriation of central bank gold clearly indicate growing mutual distrust among central banks." 

View Report

How Billionaires Prepare for Bear Markets

Many investors turn to gold to hedge against the prospect of a bear market, defined as a prolonged downturn in which stock prices fall by at least 20% over two months or more. Gold is considered the undisputed king of uncorrelated assets, and is a proven, safe haven investment that lets investors sleep at night.

View Video

I've Never Seen These Kinds of Valuations

Tocqueville and Sprott Asset Management smell opportunity in a woebegone asset: gold.

Institutional Investor's Julie Segal interviews John Hathaway, Tocqueville Asset Management, and Whitney George, Chief Investment Officer of Sprott Asset Management. 

View Article

We're Betting Against the Street On Gold

Peter Grosskopf, CEO of Sprott, was a keynote speaker at the recent May 1-2 Mines and Money New York Conference. He joins KITCO News' Daniela Cambone to discuss the macroeconomic forces providing tailwinds for gold.

View Video

Technical Resolution

On the surface, precious metals activity was subdued for the week ending Friday, April 26. Spot gold rose 0.85% to $1,290.35 and continues to hover just below the $1,300 threshold, with trading reflecting a technical tone.

Read Report

Miners Ride a New Wave of Consolidation

We believe a new gold mining mergers and acquisitions (M&A) cycle has been ignited, and we expect this merger boom to accelerate over the next several years. Exploration is down, and new gold discoveries are scarce. Miners are strategically combining in order to increase production, reduce costs and improve operations. 

Read Report

Recalculating

As the gold price has oscillated around the high-profile $1,300 level throughout 2019, it has become increasingly apparent that strong demand from Eastern (physical) markets below $1,300 is roughly offsetting a lack of urgency in Western (paper) markets above that price point.

Read Report

Paper Tiger

After much late-March huffing and puffing in COMEX markets to achieve a month-end close for spot gold below $1,300, trading in physical gold markets proved especially robust during the first week of April.  To us, this suggests gold’s sub-$1,300 spot price is destined to be short lived.

Read Report

What You're Not Hearing about Cain, Moore and the Gold Standard

If Alan Greenspan and Stanley Fischer can talk about gold as a policy tool, why can't Trump's nominees?....There is nothing wrong with talking about gold. We should follow it more closely not less.

View Video

On the Clock

Trading in gold markets during the week of 3/25/19 seemed heavily influenced by calendar-related items. 

Read Report

Busy Week

This past week witnessed an unusually rich sequence of gold supportive events.  Indeed, four successive developments came so fast and furious that we expect strong performance in the gold complex in coming weeks as investors have a bit more time to process the significance of recent news flow. 

Read Report

Gold Shares as Rising Phoenix

We believe that gold equities are poised for a span of significant nominal and relative performance. A new wave of mergers and acquisitions (M&A) is likely to provide a strong catalyst for gold miners in 2019.

Read Report

Sprott CEO Sees "Billionaires and Family Offices" Buying Gold

Peter Grosskopf, Sprott CEO, joins BNN Bloomberg and shares his insights on growing interest and investment in gold bullion. Grosskopf opines on the state of the precious metals industry and why he believes dynamics support more M&A activity. 

View Video

Barrick-Newmont Deal Would be a "Merger of Equals"

Shree Kargutkar, Portfolio Manager, Sprott Asset Management, joins BNN Bloomberg to weigh in on the potential Barrick-Newmont merger, which he views as a "merger of equals" between the Canadian and U.S. mining majors. 

View Video

2019 Top 10 List

Given the seminal nature of catalysts now in play for precious metals, we felt the timing appropriate for a comprehensive review of factors driving the gold price. In this report, we have compiled our Top 10 List of fundamentals supporting a portfolio allocation to gold in 2019

Read Report

Gold's Time to Shine

Get our positive outlook on gold and gold equities. Watch/listen to this webcast replay featuring Ed Coyne, EVP at Sprott Asset Management and special guest John Hathaway, Senior Portfolio Manager at Tocqueville Asset Management.

View Webcast

Cryptocurrencies Fail to Prove their Mettle

The reports of gold’s death at the hands of cryptocurrencies seems to have been greatly exaggerated. We’ve warned investors about the instability of the cryptocurrency market and the false equivalency with gold over the past two years. New data validates our concerns.

Read Article

More Gold Sector M&A on the Horizon

Shree Kargutkar, Portfolio Manager, Sprott Asset Management, joins BNN Bloomberg to talk about increased M&A activity in the gold sector, and weighs in on the Barrick-Randgold and Newmont-Goldcorp deals.

View Video

Gold Poised to Shine in 2019

Financial Journalist Liz Claman interviews Ed Coyne, EVP National Sales, on his 2019 outlook for gold bullion and gold equities. 

View Video

Catalyst for Gold Locked and Loaded?

We believe that gold bullion and gold mining equities may be poised for a multi-year uptrend. Gold bullion beat U.S. equities for the month of December, the fourth quarter, and the full calendar year of 2018. We suggested throughout 2018 that the catalyst for gold’s next important rally would be growing recognition that the Fed’s current tightening cycle was reaching a conclusion.

Read Report

Housing Crunch

During this holiday season, we reiterate our stance that the Federal Reserve’s dual policy agenda of simultaneous rate hikes and balance sheet reduction is crimping global dollar liquidity to the significant peril of reigning financial asset valuations....U.S. residential real estate has hit a brick wall, and in our experience, no economic sector is more reliably predictive of growth trends than housing. 

Read Report

Everything is Cool

We have maintained that financial asset prices cannot sustain rising rates with this much debt in the global financial system. We have presented our case that Fed rate hikes are already causing financial stress in peripheral markets, and now this stress is washing ashore in the form of cardiac arrest at long-troubled American icons such as GE and Sears.... To us, it seems pretty clear there are growing rumblings for at least a pause in rate hikes. Gold is likely to erupt if this transpires.

Read Report

Real Assets Masterclass

Ed Coyne, EVP National Sales, joins a panel of real assets experts to discuss whether it’s time to hunt for investments largely unconnected to financial markets, given the Dow Jones Industrial Average's flirtation with new highs in 2018.

View Video

Brinkmanship

During the next few months, we expect asset markets to come to terms with grossly misplaced investor faith in the sustainability of the Fed’s dual policy agenda of simultaneous rate hikes and balance sheet reduction — which amounts to little more than glorified brinkmanship. Recent market weakness supports our contention that Fed tightening is pinching global liquidity to a degree which threatens reigning valuations of traditional financial assets. Got gold? 

Read Report

Physical Matters

We believe gold sentiment may be turning in our favor. For the first time in 17 years commercial participants in gold futures — generally regarded as the “smart money” — have flipped their COMEX positioning to net long.  Reik: "As we await rebirth of western investment demand in gold markets, we suspect an imminent clash between hyper-bearish COMEX spec positioning and staunch global physical demand is about to ignite some short-term pyrotechnics. This should be interesting to watch!”

View Report

Buying Opportunity as Gold and Silver Shorts Reach Record Levels

As investors flee the emerging markets and seek the safety of the U.S. dollar and U.S. equities, they've increased their short positions in commodities. Most surprisingly, and counterintuitively, bets against precious metals (gold, silver and platinum) have reached record levels.

View Report

Summer Test

This summer has been a frustrating stretch for gold bugs. Trey Reik writes: “As the scale of emerging markets dislocation expands on a weekly basis, the stored force in collapsing EM currencies is still funneling towards a strengthening U.S. dollar, and in turn reflexively pressuring the gold price.” In the face of this bearish sentiment, we have been encouraging Sprott clients to exploit summer price movements in precious metals to their maximum advantage. 

View Report

Gold Slumps on Trade War Fears

Portfolio Manager Shree Kargutkar believes that "gold may prove to be the ultimate winner given the most recent trade conflicts." Despite the U.S. dollar's recent strength, Kargutkar argues that it is likely to be short-lived and that all the elements are in place for a durable bull market for precious metals and precious metal equities.

View Report

Tariff Tension

Senior Portfolio Manager Trey Reik answers the question: Why isn’t gold doing better? After trading in a bullish consolidation pattern for 18 months, gold appears to have lost some of its mojo. Trump’s June 1 tariff announcements and the U.S. dollar's spring rally have hurt gold and other commodities. Reik counters by arguing that gold’s price stability has been fairly unique among asset classes, and that right now is a fortuitous entry point for portfolio allocations to gold.

View Report

Periphery to Core

In this report, we employ the analytical framework of periphery to core.  We have organized this letter around evidence that the Fed’s dual policy goals are straining financial conditions in peripheral components of four critical sectors:  emerging markets, global financial institutions, U.S. corporate credits and U.S. consumer credits. 

View Report

In Gold We Trust Report 2018: Gold and the Turning of the Monetary Tides

Sprott is pleased to be a major sponsor of the Incrementum's 12th edition of the annual In Gold we Trust report, which discusses three fundamental turning points affecting the global monetary system. Report authors Ronald Peter Stoeferle and Mark Valek refer to these as “Monetary Turns of the Tide”, and write that “Gold will definitely contribute to staking out a comfort zone in the turmoil of the tidal changes that we have discussed.”

View Report

Gold Shows Up at the Berkshire Hathaway Shareholder Meeting

Senior Portfolio Manager Trey Reik responds to Warren Buffett’s distaste for gold, staunchly reconfirmed by Buffett at the May 5 Berkshire Hathaway Annual Shareholder Meeting. Reik finds Buffett's gold-versus-stocks comparison self impeaching, and suggests that a prudent allocation to gold could improve the risk-adjusted returns even for Berkshire Hathaway.

View Report

Gold is Rarely this Cheap

Sprott Global Investment Executive Kenton Ralph Toews looks more closely at how commodities, relative to equities, are at their most undervalued in decades. Gold is especially inexpensive relative to the S&P 500. 

View Report

“QT” or Not to “T"? That is the Question

Senior Portfolio Manager Trey Reik cautions us on the dramatic increase in the Libor-OIS spread. He sees a black swan now unfurling in U.S. financial markets: the Fed is on the verge of major policy error by underestimating the blunt force of the monetary brakes it is applying via rate hikes and QT, Quantitative Tightening.

View Report

Cryptocurrencies, Solid Gold or Just a Flash in the Pan?

Sprott Asset Management CEO John Ciampaglia examines the relative merits of gold and cryptocurrencies as these two alternatives to traditional fiat currencies duke it out in the “monetary” boxing ring of investor sentiment.

View Report

Alternative Investing with Gold and Silver

Ed Coyne, EVP National Sales, and Trey Reik, Portfolio Manager, discuss the importance of a precious metals allocation of gold and silver, and how it can potentially improve risk-adjusted returns.

 

View Video

Gold Resilient Despite Market Volatility

The calm of equity markets across the world was rudely interrupted in February by a sudden spike in volatility which impacted virtually every asset class. Volatility across equities, bonds, currencies and commodities rose sharply. Gold bullion declined a modest 2.08% during February, and its relative lack of volatility merits notice.

View Report

Oopsie Daisy! Equity Markets Stumble in Early February

Senior Portfolio Manager Trey Reik looks beyond the short-term damage of the Feb. 5 market selloff, and explores why the current fed tightening cycle is likely to increase the stress on individual consumers and inflict damage across a broad spectrum of financial assets.

View Report

Enhancing Portfolio Diversification with Gold and Silver

Ed Coyne, Executive Vice President at Sprott Asset Management discusses how an allocation to gold and silver can complement equities in an investment portfolio, and why Sprott advocates a 5% to10% allocation for most investors. Coyne also introduces the Sprott Physical Gold and Silver Trust (CEF), which represents the successful takeover of Central Fund of Canada.

 

View Video

Why Gold and Gold Equities Can Thrive in 2018

With the beginning of the new year, we have entered a seasonally strong period for gold bullion and gold equities. Gold bullion posted a strong gain of 3.23% in January, ending the month at $1,345.15 per ounce. Even so, investor sentiment towards gold and gold equities continues to remain relatively muted.

View Report

2017 Redux

Gold bullion rose a respectable 13.09% in 2017, posting its strongest annual gain since 2010. Senior Portfolio Manager Trey Reik explores why gold's performance stacks up well against other alternative asset classes.

View Report

Just Get Tax Reform Done!

Senior Portfolio Manager Trey Reik takes a closer look at Trump's tax reform. Eager for the tax bill to pass, Trump boasts in a recent tweet, “It will be the BIGGEST TAX CUT and TAX REFORM in the HISTORY of our country!” We disagree. 

View Report

Gold Equities are Currently on Sale

Portfolio Manager Shree Kargutkar says, "gold is likely to benefit in early 2018 from its traditional first quarter strength."  He also explains why gold mining equities are cheap right now, and why high-quality miners are positioned for strong earnings performances.

View Report

Bridging the Performance Gap Between Gold and Miners

Senior Portfolio Manager Trey Reik examines the interplay between gold bullion and gold equities. This relationship has been noteworthy in 2017, given an anomalous performance gap that we believe may provide investment opportunity for precious metals investors.

View Report

Gold Glittering Alone No More

Portfolio Manager Shree Kargutkar explains that while investment allocations to gold bullion and gold equities have been somewhat muted in 2017, we are now seeing signs of renewed interest in gold. Bridgewater Associates, the world's largest hedge fund, has been on a recent buying spree.

View Report

Why Doesn't Gold Get the Respect it Deserves?

Senior Portfolio Manager Trey Reik presents a collection of empirical evidence we view as compelling support of gold’s productive role as a portfolio-diversifying asset. He also addresses the disinterest in precious metals among institutional investors. He argues that given the current financial risks confronting investors, gold’s purchasing-power-protection seems an incredibly precious commodity.

View Report

It's the Debt Stupid!

Senior Portfolio Manager Trey Reik explains we he believes that "virtually every measure of domestic and global debt is significantly worse today than at its financial-crisis peak." He recaps gold bullion's performance in August, which despite the continued fervor for U.S. financial assets, has posted solid year-to-date gains, and broke through resistance at $1,300.

Read Report

Will Receding Rate Hike Expectations Give Gold a Lift?

Senior Portfolio Manager Trey Reik discusses why gold has spent the past seven months in a tight trading range between $1,200 and $1,300 per ounce. Given the stored force inherent in such a trading pattern, history suggests a breakout, whether up or down, is likely to be characterized by a steep slope. The question remains, which direction will gold follow?

View Report

Why Cryptocurrencies (Bitcoin) are Unlikely to Usurp the Role of Gold

Senior Portfolio Manager Trey Reik addresses the explosion of interest in cryptocurrencies, especially bitcoin. He attributes the growing interest in digital currencies to a concern shared by many gold investors: resentment over the financially repressive policies of global central banks. But the investment merits of gold and bitcoin are substantially different.

View Report

Have We Reached Peak Global Central Bank Liquidty?

Senior Portfolio Manager Trey Reik asks: "What is fueling this record-breaking investor complacency? We would suggest market perceptions of risk have been all but extinguished by relentless provision of central bank liquidity." He explains why gold's pullback is a reflection of persistent strength in U.S. equity markets. 

View Report

Top-Ten Fundamentals Supporting Higher Gold Prices

Senior Portfolio Manager Trey Reik identifies ten market variables we view as bullish for the gold price: "With respect to precious metals, we have rarely observed such a confluence of gold-supportive technical and quantitative variables across such a wide spectrum of relevant asset classes."

View Report

Is the Fed Worried About Irrational Exuberance in U.S. Equity Markets?

Senior Portfolio Manager Trey Reik looks at gold's lackluster performance in March: "We attribute this swift shift largely to a short stretch of particularly impassioned Fed jawboning, book-ended by the FOMC’s two crucial thought-leaders, Vice Chairman William Dudley and Chair Janet Yellen."

View Report
Insights by year
| 2021 | 2020 | 2019 | 2018 | 2017

Sprott uses cookies to understand how you use our website and to improve your experience. This includes personalizing content on our website and third-party websites. To learn more and to manage your advertising preferences, see our Cookie Policy

Close

Important Message

You are now leaving Sprott.com and entering a linked website. Sprott has partnered with ALPS in offering Sprott ETFs. For fact sheets, marketing materials, prospectuses, performance, expense information and other details about the ETFs, you will be directed to the ALPS/Sprott website at SprottETFs.com.

Continue to Sprott Exchange Traded Funds

Important Message

You are now leaving Sprott.com and entering a linked website. Sprott Asset Management is a sub-advisor for several mutual funds on behalf of Ninepoint Partners. For details on these funds, you will be directed to the Ninepoint Partners website at ninepoint.com.

Continue to Ninepoint Partners

Important Message

You are now leaving sprott.com and linking to a third-party website. Sprott assumes no liability for the content of this linked site and the material it presents, including without limitation, the accuracy, subject matter, quality or timeliness of the content. The fact that this link has been provided does not constitute an endorsement, authorization, sponsorship by or affiliation with Sprott with respect to the linked site or the material.

Continue