Is Gold in a New Bull Market? A Deep-Dive Into Humanity's 5,000-Year-Old Obsession | Rick Rule

Hidden Forces

Demetri Kofinas

Business, Government

4.8 • 1.6K Ratings

🗓️ 10 August 2020

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

In Episode 150 of Hidden Forces, Demetri Kofinas speaks with Rick Rule, President & CEO of Sprott US Holdings and Senior Managing Director of Sprott Inc. a global, alternative asset manager focused on precious metals and real assets with approximately 12 billion dollars in assets under management.

After spending most of the last decade in a period of prolonged underperformance, gold has spent the last two years on a tear, up 67% since September 2018. This episode is meant to introduce Hidden Forces listeners to gold, precious metals, and the larger natural resource industry. We discuss gold's physical qualities as a commodity that needs to be prospected, mined, extracted, refined, and stored, as well as its investment profile in the form of bullion, equities, and derivative products like futures, options, and ETFs.

We also spend time in the regular episode discussing gold in philosophical terms. What is gold? What is it that gives gold its value? Is gold a hedge against inflation? Is it insurance, and if so, insurance against what? Finally, is it possible to even talk about gold without discussing the macroeconomy, credit markets, and ultimately people's faith in the institution of paper money?

Other topics include the supply and demand-side drivers of the gold price, what Rick Rule sees in terms of institutional demand for gold, how the mining industry has changed over the last few decades, the relationship of gold to silver and where the silver market is trending, the use of public ledgers and blockchain-related technologies in the precious metals industry, and much, much more.

You can access the episode overtime, as well as the transcript and rundown to this week's episode through the Hidden Forces Patreon Page. All subscribers gain access to our overtime feed, which can be easily added to your favorite podcast application.

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Producer & Host: Demetri Kofinas

Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 08/03/2020

Transcript

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0:00.0	Today's episode of Hidden Forces is made possible by listeners like you.
0:04.4	For more information about this week's episode or for easy access to related programming
0:09.7	visit our website at hidden Forces. I.O. and subscribe to our free email list.
0:16.4	If you listen to the show on your Apple Podcast app, remember, you can give us a review.
0:21.5	Each review helps more people find the show and join our
0:24.9	amazing community. And with that, please enjoy this week's episode. And the What's up everybody? My guest on this episode of Hidden Forces is Rick Rule, President and CEO of Sprott U.S. Holdings
0:57.4	and Senior Managing Director of Sprott Inc. a global alternative asset manager focused on precious metals and real assets serving
1:06.8	200,000 clients with approximately 12 billion dollars in assets under management worldwide.
1:14.7	After spending most of the last decade in a period of prolonged underperformance,
1:20.7	Gold has spent the last two years on a tear, up 67% since September 2018, and with the exception
1:29.2	of a sharp dip during the heights of the COVID-19 outbreak the rise has been steep and more or less
1:36.3	uninterrupted.
1:38.4	My goal with today's episode is to introduce Hidden Forces listeners to this category, not just to Gold, but to the entire natural
1:46.9	resource industry, though admittedly Gold is at the very top of that list. To this point we discuss gold both as a physical commodity, something
1:57.3	that needs to be prospected, mind, extracted, refined and stored, and as an investment in the form of bullion, equities and derivatives.
2:09.0	We also spend time in the regular episode discussing gold in philosophical terms.
2:14.2	What is it?
2:15.3	What is it that gives gold its value?
2:17.2	Is it a hedge?
2:18.4	Is it insurance?
2:19.8	And if so, insurance against what?
2:22.1	And is it possible to even think about gold without
	...

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