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Who are the investors who are driving the steady advances for gold this year?

Robert Wiedemer
May 6, 2014
Video Transcript

It's the people who see the bigger issue... you can even call it the "Warren Buffet Look." The people who see the bigger issues that are driving gold. The fact that we have problems, potentially big problems in China, uh...not proven yet. Again, if you're looking for proof for every move you make in investing, you're not going to make any money, just not going to happen, but you're going to have to see a little bit ahead of what's going on. China has got huge problems with their credit markets, they've got huge problems with their government pumping up that economy, don't necessarily say it's going to blow tomorrow, but it's going to have problems. We've got our own issues that I've talked about many times before with how much we're pumping up the economy to try and pump up the stock market and even with all that the market has been flat this year. Notice, that's interesting, people aren't even pointing out how well gold had done relative to the stock market, they're just saying, "Well the stock market is going to come alive and gold is surely going to go down." I mean, even among the gold committee I hear some of that same feeling, it's amazing. But, those people who can see right now is a good time to try and take advantage of what people aren't seeing or maybe what they don't want to see, this is really one of those best times to really start to move into an investment. Because again, once it's absolutely proven, it's going to be too late and I would say that although this isn't necessarily when you put all your money in gold or anything like that, it's clearly the kind of time that presents itself as an opportunity to put money in. Again, I can't say it's the bottom of the thing. I know a lot of major names like Goldman are talking about gold going lower to $1100 an ounce or something like that. I can't say that's out of the question, but it's shown a lot of strength this year. It hasn't had big dives. You know, it's not been a bad investment so far. Frankly, if it did what it's doing now for the rest of the year, we would have made up for all the losses over the last year and maybe a little bit more. So-- and remember how well gold has done over the last 12 and 13 years, it's been a great investment. Now could be a really good time to start putting a little more into it.

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