Video News/New Orleans Investment Conference 2026

(Kitco News) - Gold’s drop below $4,000 on Oct. 30 reflects how small the gold market remains rather than any change in its fundamentals, according to Robert Quartermain, co-chair of Dakota Gold. Gold “is still a small trade,” Quartermain told Kitco News anchor Jeremy Szafron at the New Orleans Investment Conference, adding that short sellers and liquidity pressures can move the price quickly. He said central banks are still buying and gold is still flowing into China, and that most of his own net worth is in gold. Quartermain, who started in the industry in 1976 when gold was $140 an ounce, said $4,000 gold “looks very attractive” and that there is a point at which he would start buying physical gold again. He said industry discipline has kept costs at roughly $1,600 to $2,000 an ounce, allowing producers to stay profitable at current prices. On critical minerals, Quartermain, an honorary colonel in the Royal Canadian Air Force, said North America’s main gap is in refining rather than mining, a choke point China recognized 15 to 20 years ago. He added that it is the first time in his career that politicians have discussed the need for these metals.