Video News/Digging Deep

Rick Rule, President & CEO of Rule Investment Media, says the current strength in gold reflects a long-term shift in purchasing power rather than a short-term cycle. Speaking with Kitco Mining’s Digging Deep, Rule argues that precious metals tend to perform well when confidence in fiat-denominated savings erodes, pointing to persistent negative real interest rates and rising fiscal pressures as key drivers. He says the current environment fits a pattern that has been in place for decades, describing a gold bull market alongside a prolonged bond bear market. Rule also discusses how these macro conditions are filtering through to mining equities. He explains why valuation gaps can emerge when analyst assumptions lag reality and why expanding margins can have an outsized impact on net present value over time. The conversation also covers Rule’s recent shift from physical silver into silver equities, his views on risk management and capital allocation, and why royalty and streaming companies may prioritize growth opportunities as the cycle matures.