Sprott's Thoughts

One prominent 2017 storyline was, "Gold is dead — long live cryptocurrencies!" Gold and cryptocurrencies were cast as opponents in a "monetary" boxing ring featuring the two best alternatives to fiat currencies that are decentralized and function outside traditional government-controlled financial systems.

"If you have goals for your money, you might benefit by focusing on company quality based on specific metrics."

• Some speculators treat gold stocks like lottery tickets.
• Smart investors have financial goals and fit gold stocks into their portfolio.

"Historically, when gold rises steadily, or makes a significant jump upwards, the share prices of those companies rise in tandem."After the rapid rise to $1,250 from the low of $1,050 per ounce in late 2015, gold traded in a range between $1,200 to $1,300 for most of 2016 and 2017.

Growth expectations for the major global economies have moderated and other key fundamentals stole the spotlight in recent weeks. Any rumblings of slowing economic growth were put on the back-burner as inflation woes crept higher at the beginning of the year. With the return of volatility to the broader market and the heightened uncertainty over trade and tariffs the usual suspects received less airtime.

On November 21, Venezuela failed to make $247 million in coupon payments on its dollar bonds due in 2025 and 2026. These bonds now trade at around 22 cents on the dollar, a decline of 78 percent below par.

In this month’s report, we examine the interplay between gold bullion and gold equities.

Tekoa Da Silva had the chance to sit down once again with Rick Rule, CEO of Sprott U.S. Holdings. It was an interesting discussion, as he was able to ask Mr. Rule about a book that in his words, "Absolutely changed my life."

In this report, we present a collection of empirical evidence we view as compelling support of gold’s productive role as a portfolio-diversifying asset

Bear markets are tough for geologists.

In an investment world now dominated by monthly inflows into ETF’s and index funds, unconstrained by rational analysis of portfolio components, it has become somewhat passé to fret over underlying fundamentals.