Too Late To Get Into Gold? Sprott’s Rick Rule Chimes In

Gold prices are still on the rise, up over 19% year to date, with some investors now questioning whether or not they have missed their chance to get in on the action. According to one veteran gold investor, the ‘real move’ in gold is yet to come. ‘I don’t think in the near term this rally is sustainable; my suspicion is that gold will pullback before it goes forward,’ Rick Rule, president & CEO of Sprott U.S. Holdings, told Kitco News at the PDAC Convention in Toronto. However, he added, ‘what will be really interesting is…if this rally falters a little bit, some people will say it’s over and miss the real move, which I believe is to come.’ However, Rule warned that investors need to understand that the gold market could have ‘ugly’ cyclical declines. ’It’s important, if you have the liquidity and the courage, to stay this trade,’ he said. After hitting a 13-month high last week, gold prices are slightly weaker Monday with April Comex gold futures last down $1.70 at $1,269.20 an ounce.