The Gold Report
As far back as last October, John Hathaway, Senior Managing Director,
Portfolio Manager, Tocqueville Asset Management believed gold's breakaway performance from other commodities signaled rough times ahead for financial assets. That proved true, and that's the kind of insight that has led the Manhattan-based Hathaway's $1.1 billion Tocqueville Gold Fund to its own breakaway performance. The fund is up nearly 12% this year, versus 9% for the Standard & Poor's 500 and 17% for the XAU, the Philadelphia Exchange's Gold and Silver sector index, which has benefited from an overweight position in copper-producer Freeport-McMoRan (FCX)...
We ain't seen nothing yet if he's right about gold heading higher. Hathaway spoke with us from Colorado, where he was attending the industry-sponsored Denver Gold Forum...
Hathaway: Gold's bubble lies ahead. It has got a long way to inflate. So much about gold has very little to do with gold. It is more about capital-markets psychology. If we are entering a period of difficult markets, which was averted from happening earlier because the Fed pulled this 1% short-term money stunt and bought us a few more years, it is going to change psychology, and that will open the door for more people thinking about gold. What was needed to put gold in overdrive was the scent of fear.
What gets us to the magic number of a $1,000 an ounce?
I don't think it will take much. Let's not forget, in 1980 dollars, gold is less than half of its nominal price today.
Notable Quotes
"GRG outlined ~110 Moz Ag eq at Chinchillas, and it has barely scratched the surface." (6/17/13) Golden Arrow Resources Corp. - The Gold Report Interview with Jay Taylor More >
"AVA's grades are around 1 g/t, with lots of exploration potential." (6/17/13) Aurvista Gold Corp. - The Gold Report Interview with Jay Taylor More >
"We saw insider buying in DGC, which has gone to the capital markets to raise money." (6/14/13) Detour Gold Corp. - The Gold Report Interview with Ted Dixon More >
"The potential for the court to award RPM either the LH claims outright or give it some substantial settlement make it a company to watch." (6/1/13) Rye Patch Gold Corp. - Brien Lundin, Gold Newsletter (Jefferson Financial) More >
"For a junior, CYD offers a lot to like, including a good share structure and money in the bank." (6/12/13) Cayden Resources Inc. - The Gold Report Interview with Brien Lundin More >
In Overdrive to $1,000 Gold
Source: Barron's (10/1/07)
John Hathaway, Senior Managing Director, Portfolio Manager, Tocqueville Asset Management: "Gold's bubble lies ahead. It has got a long way to inflate. So much about gold has very little to do with gold. It is more about capital-markets psychology."
More Experts
"GUY has a robust project, advanced permitting and manageable capital requirements in a mining friendly jurisdiction." (6/7/13) Guyana Goldfields Inc. - Brad Humphrey, Raymond James More >
"MND's higher grades and improving operating performance offer near-term production growth at reduced operating costs." (6/6/13) Mandalay Resources Corp. - Chris Thompson, Raymond James More >
"SSO is well positioned to be a consolidator of silver assets." (6/10/13) Silver Standard Resources Inc. - The Gold Report Interview with Keith Phillips More >
"NRE is into the heaviest and rarest of the rare earths; I'll almost surely buy after the metallurgical report is out." (6/4/13) Namibia Rare Earths Inc. - Thom Calandra, The Calandra Report More >
"BTO is a great mid-cap, higher-grade company that performs well." (6/7/13) B2Gold Corp. - The Gold Report Interview with Frank Holmes and Brian Hicks More >