Gold sees continued downside pressure this Wednesday and Kitco News speaks with legendary investor Don Coxe to find out how he feels about the metal’s recent performance. “My view is that, yes I’ve been disappointed in this like everybody else,” he told Daniela Cambone. “But let’s not overdo it…It’s been one of the best performing commodities this year.” Coxe adds that gold has been able to climb from $275 to about $1,900 in recent years, and because of that, it should be entitled to a pause. Looking over at mining stocks, he says it is likely for gold prices to reach new highs down the line given that there aren’t any high grade deposits left. “That shows you how truly scarce gold is and therefore…I know that gold prices are going to go to tremendous new highs because the world needs gold…and there just aren’t any high grade deposits in politically secure places in the world.” Tune in now to our in-depth interview with Don Coxe. Kitco News, November 5, 2014.
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Gold Entitled To A Pause, Central Bankers Acting Like ‘Children’: Don Coxe | |
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