... Could you update our investors on your outlook for gold? Have we found a bottom for gold or is there still room for decline?
A: Well, I’ve run out of chalk to draw a line to the bottom of gold. So I may not be the best person on that. But I will say that in almost 30 years of being around the financial markets, I’ve never seen such a lineup of people wanting to predict the demise and end of something. And something that had gone up for 12 years in a row beforehand and most of those who are predicting its demise, never participated, fully or at all, in that rise. And so it’s always dangerous to catch a falling knife, which gold has been. But the current emotional and psychological sentiment is what one expects at the end of a move which clearly has been down for almost two years. So if we’re not at the bottom, it’s certainly within reach. And so certainly if one hasn’t sold by now, I think it’s futile because from these levels, the reward now is greatly more to the upside than the downside.
Q: So given those statements, do you prefer silver over gold as an investment currently?
A: No, I always choose gold , much to the chagrin of some people who spend a lot of time writing me emails in disagreement. I feel that gold almost always is a better choice over silver simply because I believe it has more monetary and investment characteristics. I do think that there comes ...