KITCO NEWS – With gold prices wavering ahead of the U.S. election and a potential interest rate hike by the end of the year, investors are trying to decipher where the metal is headed next; according to famed investor Rick Rule, bullion is moving higher. “The catalyst for it going higher is simple: zero interest rates and negative interest rates,” the chairman of Sprott U.S. Holdings told Kitco News at the Mines & Money event in Toronto. “Frankly, I think interest rates will be more important to the gold market than either Clinton or Trump.” He noted that the Fed is “trapped” and continues to be “addicted” to low rates, which will bode well for gold.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
