In the past both you and David thought that the precious metals where to be the last recourse for the currencies. Is that still a big factor for your bullishness vs the precious metals?

At the moment for the USA the dollar is very strong. Some, as u know, think it has overdone, peaked.

Is that the reason why you still like gold longer term.

Would appreciate your comments

Eoin Treacy's view

Thank you for this topical question which may be of interest to the Collective. Gold is a monetary metal and does best when it is appreciating in every currency.

At present the Dollar is very strong and that has impeded gold’s performance in US Dollars. The strong performance of the Brazilian Real and Russian Ruble have had much the same effect on the price when denominated in those currencies. Gold is trending higher in Euro and is even more impressive from the perspective of a Yen-based investor.