REPEAT: Close Enough To a Bottom, Gold Best Alternative For Investors - Doug Casey

As markets digest this week’s Fed meeting and first interest rate hike in nine years, one veteran investor says he’s still rooting for gold. Doug Casey, founder of Casey Research, told Kitco News that he expects prices to move higher next year. As part of Kitco’s annual Outlook series, Casey shared his forecasts for the coming year and said we may be near a bottom for the metals. ‘My opinion is if it’s not the bottom, its close enough to the bottom,’ he said. ‘So, I have to be an aggressive buyer of both gold and silver at this point.’ According to Casey, there are no better alternatives for investors right now than precious metals. 'Everything else in the financial world is grossly overpriced, including the dollar, so you have to buy gold,’ he explained. His optimism spills over into mining equities, as he expects a ‘super bubble’ in mining stocks. However, he still said he doesn’t like the current state of the mining industry. ‘I’ve been saying for years that mining is the worst business in the world; that it is eventually going to radically change its entire nature in the future,’ he said. Casey also expect the dollar to eventually reach, as he put it, its ‘intrinsic value at approximately zero.’ Kitco News, December 30, 2015. (show less)

As markets digest this week’s Fed meeting and first interest rate hike in nine years, one veteran investor says he’s still rooting for gold. Doug Casey, founder of Casey Research, told Kitco News that he expects prices to move higher next year. As part of Kitco’s annual Outlook series, Casey shared his forecasts for the coming year and said we may be near a bottom for the metals. ‘My opinion is if it’s not the bottom, its close enough to the bottom,’ he said. ‘So, I ... (read more)

Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.