• Gold: 1,227.52 2.66
  • Silver: 14.70 0.04
  • Euro: 1.154 -0.004
  • USDX: 95.356 0.308
  • Oil: 71.01 -1.14

Weekly Wrap-Up with Eric Sprott

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January 23, 2018 - 12:32pm

It’s an exciting time to be in precious metals. The US dollar is plunging to its lowest level in four years, Bitcoin is faltering, and with all the political uncertainty in the world, people want security.

The fact that investors are turning to gold and silver comes as no surprise to Eric.

“All these unregulated currency exchanges are open to massive manipulation. We see manipulation in regulated markets. Can you imagine what happens in an unregulated market, where you can do whatever you want to do?”

“If you’re going to exit the game—the Bitcoin, the cryptocurrency game—what do you do with your money? You hate banks, you hate fiat currencies. There’s pretty well only one option—that is to go into gold. And so that is happening as we speak.”

Even as Bitcoin’s stumble causes a surge of interest in precious metals, the main story in the news today is the looming government shutdown in the United States. What does this mean for the future of the US dollar, and how could it add to what Eric calls “a huge tailwind for gold”?

Hear his full thoughts here: https://soundcloud.com/sprottmoney/sprott-money-ne...

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About Eric Sprott

Eric Sprott is Chairman of Sprott Inc., CEO, CIO and Senior Portfolio Manager of Sprott Asset Management LP and Chairman of Sprott Money Ltd. Eric has over 40 years of experience in the investment industry.

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