“Could Not Invent A More Bullish Story For Gold”

Newstalk’s Nick Bullman interviewed GoldCore’s Mark O’Byrne on “Down To Business” at 0643 this morning.The interview on Breakfast (06:30 – 09:00) begins in the 14th minute (Part I) and can be listened to here

Topics covered were:
– Gold’s performance so far in 2016 – +25% in USD, +25% in EUR and +40% in GBP
– Gold acting as a hedge against fiat currencies
– “Could not invent a more bullish story for gold”
– Economic recoveries are tentative and leading to ultra loose monetary policies
– A lot of strong fundamentals including negative interest rates, polarisation of politics and “Clash of Civilisations”
– Short term risks with FOMC, Yellen and options expiration – may create short term risks
– Gold can rise even if dollar continues to rise
– Gold mining shares are up 80%. Are they over valued?
– Mining shares are more high risk and volatile than gold
– Allocation of 20% to gold merited given risks
– “Most of new buying from pension funds and companies”
–  Avoid ETFs and paper gold – Have absolute legal title to physical gold

The interview can be listened to here