by Henry Bonner, Sprott Global:
Rick Rule, Chairman of Sprott US Holdings Ltd. said in early March that the market looked overheated and was due for a pullback. Gold and silver had just delivered double-digit gains in a few months. Sure enough, from mid-March until early June, the precious metals gave up much of their gains.1
Since early June, resource stocks have surged higher once again.2 So the question on my mind was: Where is gold headed for the remainder of the year? Will this rally pull back?
Rick gave me his answer on July 8th:
“My prediction for the rest of the year is for gold to go higher, but in a choppy fashion. The last time that we talked, gold, silver, and a large number of resource equities had just experienced a quick run-up. At the time, I suggested that the market probably needed to ‘back-and-fill.’ Sure enough, it did.
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