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. Excerpt: In the past two weeks, the markets have been more risk on. We expected to see a pullback, but long-term, we see many signs of trouble ahead, including a possible recession. We are 10 years into the equity bull market, and we are in a negative interest rate environment....we do think that gold has been underutilized in the past, but there is a growing crowd of institutions holding it as a hedge against volatility and negative market developments. Gold is being accumulated much more than it has in the past."
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