This Will Push Gold Prices Higher - Sprott's Rick Rule

KITCO NEWS - With gold prices wavering ahead of the U.S. election and a potential interest rate hike by the end of the year, investors are trying to decipher where the metal is headed next; according to famed investor Rick Rule, bullion is moving higher. "The catalyst for it going higher is simple: zero interest rates and negative interest rates," the chairman of Sprott U.S. Holdings told Kitco News at the Mines & Money event in Toronto. "Frankly, I think interest rates will be more important to the gold market than either Clinton or Trump." He noted that the Fed is "trapped" and continues to be "addicted" to low rates, which will bode well for gold.

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.