Rick Rule & Eric Sprott On The Next Move In Gold…

• Rick Rule & Eric Sprott On The Next Move In Gold…! 
  by Tekoa Da Silva, http://bullmarketthinking.com/ 
  …. In reflecting on the past month—it’s been quiet in the metals and mining space from a sector-wide pricing standpoint. Most mining shares are treading water, or remain trapped in decline while the metals continue sideways.
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  What’s fascinating to note is the emergence of extreme opposing opinions on which direction gold is heading next. Jim Rogers suggests the possibility of $1000 oz., and regular interview guest, technical gold trader Gary Savage expects the same.
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  In weekend commentary Gary suggests the short-term possibility of $1200 oz. gold, followed by a retest of $1000 oz.–to be created by manipulative hedge fund managers driving the price down in order to enter large positions ahead of the bubble-phase.
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  Rick Rule recently noted the possibility of an October black swan event, but in contrast to Jim and Gary, he indicates that in terms of mining shares, “The damage [to] the juniors has been extensive enough that I am personally of the view that the very best [companies] are cheap enough.”
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  Regarding his boss, Rick said, “Eric Sprott…is as aggressive as I have seen him since the year 2000…he is as is his style, the style that has made him a billionaire, very aggressively going into the marginal junior producers…companies that barely make money at $1400, but would be making $800 or $900 an ounce if the gold price went higher.”
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  Rick further added that, “Eric believes that gold within 12 months will certainly be above $2000…[and] that this is the year where his portfolio will see ten to fifteen–10 to 20 baggers.”
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  While the viewpoint of gold’s direction over the next 3-12 mos. remains conflicted, one thing is for certain: the long-term fundamentals are becoming stronger, and physical supplies of gold are disappearing.
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  It is therefore in your editor’s opinion, that dollar-cost averaging programs be considered, as they will succeed no matter where the price of gold goes over the next 3-12 mos. Through disciplined accumulation, any downside price shocks will simply offer more opportunity to reduce cost basis. For more commentary on this issue please read this article.
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  Furthermore, while Eric Sprott may be accumulating gold producers which barely make money at $1400oz, your editor (much like Rick Rule) is on the more conservative side, and suggests companies that will continue to be economic or will “break-even” if gold goes to $1000oz or even a bit lower.
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  A handful of those companies are contained in what I’ve called the Da Silva “Legendary Mine Builders” Index, and as a special thank you for supporting my work, I’d like to offer you that list for $50-OFF the regular price.
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  The junior gold mining companies contained in that list have substantial cash reserves, no debt, high-grade deposits, and are led by the industry’s top wealth builders.
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  read more!

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