Economics
Sprott Sees Next Gold Bull Market Driven by Stock Correction
- Hedge fund CEO says underlying economic strength ‘debatable’
- Canadian fund sees gold rising to $1,400 an ounce by yearend
Sprott CEO Grosskopf Is Still Bullish on Gold
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Sprott Inc., the precious metals-focused money manager, sees gold rising by the end of 2017 as weaker-than-expected economic growth drives stock prices lower.
“The next move on gold will be driven by an equity market correction,” Chief Executive Officer Peter Grosskopf said in an interview at Bloomberg headquarters in New York. “It’s a pretty safe bet that if equity markets start to look volatile and dangerous then a lot of money will flow into gold as a hedge to that.”