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Market not yet rewarding precious metal miners' fundamentals
The market isn’t rewarding fundamentals just yet for precious metal miners, according to Byron King, editor of Daily Resource Hunter, Outstanding Investments and Energy & Scarcity Investor. In this exclusive interview with The Gold Report, King maps out when rising gold prices will actually lead to rising stock prices for companies with quality projects and solid treasuries.
The Gold Report: Byron, anyone who reads your reports knows two things: you like to tell stories and you like precious metals. The gold price has spent the last 11 years trending higher. Do you see it continuing upward?
Byron King: I anticipate that gold, silver and platinum will all continue to rise in price. There are currency-driven reasons why metal prices are going to keep rising, as well as other issues with overall supply and falling production.
In terms of production, the gold and the platinum production spaces are very precarious. A few very bad things could happen at random and knock global production for a loop and seriously impact supply. Think in terms of a major mine accident in, say, South Africa. Supply could fall off a cliff overnight.
In terms of politics and monetary issues, precious metals create an outside limit on people’s political power. Thus I expect massive amounts of manipulation as we roll along, too. The dollar value of gold, silver or platinum will tend to rise over time, but we could see price spikes up and down due to that manipulation.
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