Canadian fund manager bullish on gold, silver and oil

Canadian fund manager bullish on gold, silver and oilJan 19, 2012 01:05 PM

The price of gold futures and silver futures this year will push to the milestone marks of $2,000 per troy ounce and $50 per troy ounce, respectively, a high-flying Canadian fund manager told Reuters earlier this week.

Toronto-based Eric Sprott, whose parent company directs roughly $9 billion Canadian in assets, also believes the price of crude oil will have a productive year.

He said he holds higher prospects for the "upside" of stocks linked with gold mining, while also noting how "absolutely crushed" those stocks were when the price of gold futures plunged. But he said the price of gold is going to resume rising and stocks will deliver a better return.

At 1:41 p.m. on Thursday, gold futures dropped 0.35 percent, a $5.80 loss to $1,654.10 per troy ounce. At 1:42 p.m., silver futures fell 0.09 percent, a 0.09 percent slide to $30.515 per troy ounce. At 1:42 p.m., crude oil futures gained 0.05 percent, a 6 cent lift to $110.72 per barrel.

Dow Jones Newswires reports gold futures fell in value on Thursday after having touched their highest price in five weeks earlier in the session.

Source: Canadian fund manager bullish on gold, silver and oil | Daniels Trading
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