Rick Rule Comments On Recent Gold Pull-Back

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President of US Sprott Holdings Rick Rule says, because of how relatively small the gold market is, if a small portion of the investment public moved towards gold, this shift would have a dramatic impact on the price.

Rule notes markets don’t go straight up. A downtrend or uptrend in precious metals lasting a few weeks should not be taken very seriously. Gold and silver have fallen since late February but have now started rising again.

Investors still consider the U.S. 10 Year Treasury as a safe haven, he says. However, he sees investors will see the value of gold and divert some of their savings into gold.

Rule comments on other precious metals: palladium and platinum. Palladium is near an all time high. While platinum with respect to gold is near lows. Demand is extremely inelastic for both palladium and platinum. However, a downturn in the economy would be bearish for palladium and platinum.

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