READ: Current High Gold Price Interview by Neils Christensen on Kitco News.

Read the latest views on the current jump in Gold prices and why some feel the S&P 500 is overvalued – original interview can be found at Kitco News.

Gold prices are going higher, it remains the only antidote to an overvalued S&P 500 and global uncertainty – says Sprott’s McIntyre

The gold market continues to move from one record close to another, even as its all-time highs remain elusive, which should attract investors’ attention, according to one fund manager.

Regardless of whether the gold’s four-day rally to $2,150 an ounce is sustainable or not, prices are going higher in the long term, said Ryan McIntyre, Managing Partner at Sprott Inc., in an interview with Kitco News.

Although some analysts are warning investors that the gold market is a little overstretched and could see a correction by the end of the week, McIntyre said that investors should ignore the near-term price action and focus on the bigger picture.

“Long-term, this is not the top for the market,” he said.

McIntyre pointed out that gold’s rally started in earnest Friday following disappointing manufacturing data. He said that he expects recession fears to continue to grow, creating further safe-haven demand for the precious metal.

He explained that even after gold’s latest move, it is still undervalued compared to the S&P 500.

“We’re getting more indications of a slowing economy, so people’s first thoughts are rates, right,” he said. “How do you take advantage of a rate cut? To me, it’s not necessarily clear that people should be buying the S&P 500. To me, it’s much more obvious that if you want to take advantage of rate cuts, you don’t do it with an over-bought market; gold is the far more logical avenue.”

McIntyre said it’s not surprising that the gold market is finally starting to attract some significant bullish momentum. While investors have been shunning gold for most of 2023, central banks have more than made up the difference, he added. Despite higher bond yields and a relatively stronger U.S. dollar, gold has held support above $2,000 an ounce through the majority of the new year, driven by central bank demand.

McIntyre added that he expects central banks to continue to buy gold even at higher prices.

“I would bet that central banks are not going to relent on buying gold because it makes less and less sense owning other people’s currencies in a growing disaggregated world, filled with uncertainty,” he said. “Investors are starting to recognize this trend and I think we will start to see new money flow back into ETFs, which could be the second leg that drives prices higher.”

Like central banks, McIntyre said that as the global economy weakens, investors will see gold as an independent hedge against risk.

“Gold is one of the best alternatives you have to the problems we see in the world today. It remains the best antidote to a recession, an overvalued S&P 500, and frankly to the geopolitical tensions around the world,” he said.

Full interview can be found here at Kitco News.

With the gold price still heading North, here at Core Bullion Traders we note the upswing in retail investor interest since late last week. “Trading has taken an even bigger step up, on an already extremely strong and active start to the year” said Nigel Doolin Head of Trading for Core Bullion Traders. “Customers, both new to gold and seasoned investors, seem to realise that in these uncertain times – Gold is the true safe-haven” says Doolin.

Core Bullion Traders are 100% Irish owned and operate from a high-security facility in Dublin city centre.  We are happy to meet our clients both existing and prospective, in our offices (by appointment) at any stage.

We only deal with LBMA Approved & Member Refineries and we are Officially Authorised distributors for The Dublin Assay Office bullion bars and The Perth Mint Program.  We are quality assured and accredited by The International Trade Council (ITC).

Contact us today if you would like to know more.  We look forward to dealing with you at Core Bullion Traders.

Nigel Doolin is Head of Trading at Core Bullion Traders – he can be contacted directly at: or Tel: +353 (0)1 447 5975

Disclaimer &  Copyright 2023

Although every effort has been made to undertake this work with care and diligence, Core Bullion Traders do not guarantee the accuracy of any forecasts or assumptions. Nothing contained in this presentation constitutes an offer to buy or sell securities or commodities and nor does it constitute advice in relation to the buying or selling of investments. It is published only for informational purposes. Core Bullion Traders does not accept responsibility for any losses or damages arising directly or indirectly from the use of this presentation or data.