Sprott CEO: Argument for Gold Is 'Getting Stronger, Not Weaker'

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Peter Grosskopf, CEO of Sprott, joined TheStreet to talk about gold and his company's debut on the New York Stock exchange.

So, what has this pandemic meant for gold?

"Well, its clearly given us a tailwind, it's been a good thing for our business. Investors are much more interested in gold now and it's because of the perceived risks in the economy, and with the money printing that's going on. So our business can function virtually and we are getting more clients by the day," said Grosskopf.

So, despite gold hitting multi-year highs, is it still a buy?

"We think that the argument for gold is getting stronger, not weaker. And then in fact, the technicals point to over 2000 by the end of the year. So it's becoming a political risk hedge, an economic hedge, hedge against credit markets and even a hedge against the equity markets and most investors still don't own it. So there's still a broad process going on to accumulate," he said.

And, of course, the question has to be asked: Should the Robinhood investors who are just starting out be looking at gold as one of their first investments?

Grosskopf noted that it's been hard for those investors, but that "there'll be more options going forward."

Watch the full video above for more.

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