Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Donald Coxe says an Obama victory in the US presidential election would give bullish impetus to gold prices.
In an interview with Kitco News Coxe says “if you want to make more money on gold you should be rooting for Obama,” despite the general aversion of the gold investing community to the incumbent presidential candidate.
According to Coxe, a veteran portfolio strategist who is an advisor at BMO Financial Groups and Chairman of Coxe Advisors, if Obama is re-elected his continued deficit spending and haphazard fiscal policies will serve to push gold prices higher at the US dollar’s expense.
Coxe also asserts contrary to consensus opinion and recent experience that gold stocks will soon outperform bullion prices, as more young geologists join the work force to make up for the shortfall in expertise and miners engage in more financial discipline.
Image courtesy of Kitco News via Youtube
