Before It Was Crazy, Now "Absurd" Not To Be In Gold Says Amir Adnani

With the mounting global debt, rallying equities and political turmoil, it would be “absurd” not to be protected with gold, this according to GoldMining Inc. Chairman Amir Adnani.
Speaking on the sidelines of the Vancouver Resource Investment Conference (VRIC), Adnani who previously said it was “crazy” not be in gold, has upped the ante by now saying its “absurd” not to be exposed to the yellow metal.
“Gold has been in a stealth bull market, quietly moving up…last year I said it would be crazy, now I would say it is just absurd, not to have that protection,” Adnani said.
Adnani also pointed to the depleting global supply of gold as a bullish case for the metal. “The gold mining industry is sitting at a decade low [of gold supply] this is because we have had a prolonged bear market,” he said.
The CEO added that a $1,400-$1,500 gold price would be needed to bring interest back into exploration and with it much needed capital. “We are flirting with the $1,350 point; it is a bullish way to start the year,” Adnani said.
On Wednesday, gold prices were holding relatively steady as the Federal Reserve made little change to its monetary policy outlook.
April Comex gold futures were last up $6.7 an ounce at $1,346.50. March Comex silver was last up $0.207 at $17.26 an ounce. (show less)

With the mounting global debt, rallying equities and political turmoil, it would be “absurd” not to be protected with gold, this according to GoldMining Inc. Chairman Amir Adnani.
Speaking on the sidelines of the Vancouver Resource Investment Conference (VRIC), Adnani who previously said it was “crazy” not be in gold, has upped the ante by now saying its “absurd” not to be exposed to the yellow metal.
“Gold has been in a stealth bull market, quietly moving ... (read more)

Daniela Cambone

Daniela Cambone

Editor-in-Chief

Biography
With over a decade of international experience, Daniela Cambone covers prominent industry events and interviews a number of leading analysts, financiers and political leaders for Kitco News. She began her career covering the Canadian financial and insurance industry and later worked in Europe covering the political and financial scene for the International television station, Press TV. Daniela holds a BA in Broadcast Journalism and an MA in Journalism & Communications.

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