Eric Sprott is a Canadian gold investor, according to popular descriptions. Yet Mr. Sprott is more than that. He’s also a walking history book for the precious metals sector. His company, Sprott Inc, manages precious metals assets and appears on the US stock exchange as SPOXF. And did we mention he’s become a billionaire along the way? Well, he must know something worthwhile. Today’s gold news is a case in point.
This week he spoke at the Precious Metals Investment in Symposium in Perth, giving his thoughts on metals analysts and market perception in no uncertain terms. “No friggin’ idea” is how he characterized most precious metals analysts, pointing out that while silver is currently out of favor, traders exchange 5/8ths of the world’s annual production of silver every day. How can that possibly mean disinterest?