Read more on this subject: Finance – Money Management
News Story Source: https://www.caseyresearch.com/articles/eb-tucker-o
Chris Lowe, editor, Legacy Inner Circle: E.B., you called the bottom for gold last summer when we talked in August. Since then, gold is up almost 11%. What was it that made you think gold prices had bottomed… and that higher prices were on the way?
E.B. Tucker, editor, Strategic Investor: As we talked about at the time, gold bullion and gold stocks had been taking a beating. Then the fund management industry started throwing in the towel, too.
Last July, The Vanguard Group announced it was shuttering its $2.3 billion Vanguard Precious Metals and Mining Fund. Gold had seen an almost 10% drop in the previous three months. And the fund had dropped 24% in the past year. So Vanguard – one of the world's largest investment firms – just gave up. It turned the fund into something completely different because it felt the need to get away from out-of-favor precious metals miners.
When you see a big change at a fund like that, it's always something to watch. It
Read More or Make a Comment