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Eric Sprott
Since 2003, SilverSeek.com has provided silver investors with the latest silver market news and information. This includes live silver prices, charts, articles, in-depth commentaries, silver stock updates, analysis and much more! SilverSeek.com also provides a growing platform of tools for our online silver community to connect and share silver information in a real time basis.
Weekly Wrap-Up with Eric Sprott
“How many years in a row can you take this before you say, ‘You know, I should do something about this?’” — Eric Sprott on the US Dollar, commodities, and gold in the Pilbara region.
It’s been a wild week: gold and silver are both up, but the US Dollar staged a late-week rally. Does this mean the dollar is back on track?
Eric Sprott says, “Not so fast.”
“For all Americans, they’re losing purchasing power on an international basis. Your Nissan is going to be 20% more expensive, other things being equal. The cost of any imports—it doesn’t matter what it is—the dollar has less purchasing power, so it’s a very, very significant thing…”
Add to that a bear market for bonds and a weak Fourth Quarter GDP, and the pressure on the dollar keeps mounting.
“We’re getting lots of indications that things aren’t as strong as they should be. Most of the ISMs have been weak. The Fed surveys have been weak. Retail sales were weak in December… There’s lots of talk of a boom, but I’m not so sure there is a boom. The data doesn’t support it.”
What does this mean for gold and the commodities market? Listen to Eric’s full thoughts here: https://soundcloud.com/sprottmoney/sprott-money-ne...
About Eric Sprott