Investing News Network, Released on 3/1/20
The Investing News Network sat down with veteran investor Rick Rule of Sprott at the Prospectors and Developers Association of Canada convention in Toronto this week to discuss current conditions in the gold market.
When asked about the COVID-19 coronavirus’ role in recent market action, Rule said he doesn’t see it as the driver. “I think it’s the trigger — I think it’s an excuse,” he said.
“I think that there were underlying concerns in the market … my suspicion is that there were pressures building in both debt and equity markets for a reset, and we certainly got a good excuse.”
Rick Rule, founder and chairman of Sprott Global Resource Investments Ltd., began his career in the securities business in 1974. He is a leading American retail broker specializing in mining, energy, water utilities, forest products and agriculture. His company has built a national reputation on taking advantage of global opportunities in the oil and gas, mining, alternative energy, agriculture, forestry and water industries.