Why Gold Is on the Brink of a Historic Surge

Stansberry Investor Hour

Stansberry Research

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4.4 • 677 Ratings

🗓️ 30 October 2023

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week's Stansberry Investor Hour, Dan and Corey are joined by Rudi Fronk, chairman, CEO, and co-founder of Seabridge Gold (SA). But first, Dan and Corey kick off the podcast by discussing the latest numbers for gross domestic product ("GDP") and the core personal consumption expenditures price index. Then, they also explore what they think the Federal Reserve will do next and what will happen to the stock market. (00:41)

Next, Rudi joins the show to chat about Seabridge Gold, the outlook for the gold market, and risk within the industry. Rudi emphasizes that Seabridge is not a mining company, and it instead partners with major mining companies to co-develop assets while retaining around 40% to 49% interest in projects. (16:21)

He believes the current challenges in the Treasury market as well as hedge funds using leverage to accumulate positions will ultimately drive gold prices to new heights. Rudi boldly predicts that gold will surpass its previous all-time high of approximately $2,063 an ounce by the end of this year. Moreover, he details why he foresees gold's price surging to multiples of its current value over the next few years. (24:26)

Rudi concludes by explaining why it's so difficult for mining companies to turn a profit and why so many of them never get any dollars out of the ground. "I don't have a high respect for most of my industry," he says simply. If you're interested in investing in the gold industry or just want to know more about it, don't miss this week's show. (36:32)

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Transcript

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0:00.0	Hello and welcome to the Stansberry Investor Hour. I'm Dan Ferris. I'm the editor of Extreme Value and The Ferris Report, both published by Stansberry Research. And I'm Corey McLaughlin, editor of the Stansberry Daily Digest. Today, Dan interviews Rudy Frank, chairman and founder at Seabridge Gold. And Corey and I pretty much have to talk about GDP numbers, core PCE numbers, and what we think
0:24.9	the Fed will do because that's what we're obsessed with. And remember, if you want to ask us a
0:29.0	question or tell us what's on your mind, email us at Feedback at InvestorHour.com. That and more right
0:34.7	now on the Stansberry Investor Hour.
0:56.5	So make a prediction for me. When will we stop obsessing about the Fed? We'll stop eventually. I'm confident of that, but I don't know, a year. Like, what would it take? Three percent Fed funds? I don't even know. A really bad recession followed by cutting rates and people freaking out and then getting out of the market and everybody moving on from
1:02.9	inflation and maybe that will be it or when they go away completely. Well, definitely that would
1:09.1	be the case. Boy, that sounds like a lot of fun,
1:11.1	doesn't it? Yeah. Sorry. What do you think? You know, I think that we're going to have to sit down
1:17.7	in front of the microphone one day and say, this is it. We're not doing this anymore. It's just
1:22.7	going to have to be cold turkey. Like, right when everyone expects us to talk about it, we'll just
1:27.1	start talking about other stuff. But about it, we'll just start talking about
1:27.8	other stuff. But until then, we've got to talk about, you know, GDP came in pretty kind of hot.
1:37.6	I think the expectation was like 4.5 and it came in at an annual rate of 4.9% real gross domestic product in the third quarter of
1:48.3	2023. That's a warmish number. It's like there's no recessing there. I mean incomes were down
1:57.2	or you know not up as, actually down in real terms.
2:02.9	So, you know, that's not great, but this measure of economic activity is en fuego.
2:09.4	Yeah, it was double what the rate was, you know, analyzed the previous quarter in the second
2:15.4	quarter. So, you know, if you're looking at that,
2:18.9	you wouldn't say a recession is a foot. And consumer spending, the PCE numbers that you mentioned,
2:24.5	also were pretty good for October, like 0.7% for the month, which is pretty large.
2:31.5	I thought that was pretty hot too. Yeah. Yeah. So, I mean, last,
2:36.3	you know, these are looking backwards, right? So third quarter, September, but it just shows you what
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