Also in this playlist...
This transcript is automatically generated
Thank you Jeff very much it's been -- shining decade.
For gold prices the yellow metal up more than 300%.
Over the past decade here not straight up more than 60%.
Over just the past five years don't you wish you bought it.
-- the gold price though is dimming this year but to get to hysterical about when you put it into perspective there but it has slipped 14% year to date.
2% this month alone mark -- out cannot hear the negative news because he's too busy digging for gold as the CEO of -- gold resources.
It's -- first on Fox Business interview good to see you thank you for joining us.
But that is well I look at what's happening in your world and -- -- millions of ounces of gold yet the prices down 14% does this.
Concern -- does -- worry you does it get you very anxious what do you think of this pull back and what's causing it.
I think you the city -- the pullback in any.
Industry is poised lighting and you should pay attention to that but as you pointed out we've come a long -- over the last two years from the sub 300 dollars and house.
In 14% in perspective is statistically possible but I think meaningful because.
The industry itself -- and straights and you know there's a -- that is it hasn't delivered the sort of values that.
People expected it to deliver on the back of the rising -- Protestants.
There is a watery.
And what -- and has driven this.
Drop in golf process.
Well he -- it's important do appreciate the gold market is ready made up of forsake this physical gold BE TFs.
And it -- keys.
And and the paper market itself and really -- -- the pressure on the golf prosper came from the paper mockery -- -- -- Friday.
What the market when you look at the actual physical gold itself -- is demanding it right now.
We've heard that central bankers at least some central bankers have been selling it.
That what do you see.
-- did the biggest of mind as we've seen it -- -- -- 130 tons of mud is still the the the central banks.
The emerging market central banks those banks that have ended up with a lot of the world's money.
And all managing -- -- currency risks.
An and Grady had and a lot of that says you know there is an Asian.
Nice to a jazz that big affinity to adult.
On the sell side we've we it's coming from the traditional holders of gold who -- -- -- and financial.
Facing financial issues that need that present right -- -- play Q2 save them.
In fact and who this was about a year ago when we started to see -- stumbled just for a day or two and George bureau over -- RBC -- mr.
gold he said listen when you have to sell something uses what -- happened there were that you -- finally had to sell that out.
So I guess I guess now the question truly becomes your company in the miners themselves.
Why have the miners lacked while gold is down about 14% your stock is down about 20% your reader so I guess the question then.
Is what's going on with the miners and why do people not have faith in the value of miners.
Yeah I think just to put that in perspective as well you know the it to whom the -- prices up 560%.
And we're up 2300%.
Said -- listing on NASDAQ in 2000 she's SharePoint you've put if you put it in perspective you guys some.
Some companies done better than others.
I think on balance the gold industry itself hasn't delivered the sort of if spending chill group heads that one would expect considering that revenue stream is increased so has substantially.
And people avoids traditionally invested in gold mine -- For those windfall -- pretend right in times of crisis and we haven't seen it and that's the frustration.
And that's what's being exploited.
But in the paper markets today.
-- we finish up Caremark how closely does somebody like you watch what the Fed does because the Fed has.
Kind of zig zag to.
The price of gold just when you think that the principal might skyrocket it does not there doesn't appear to be a -- trade on the days we would think there would be so when you have -- CEO like yourself.
How closely do you watch the tape you watch the headlines about the Federal Reserve could -- it it has some on Friday.
Right yeah I think you'd in we've got all these conspiracy theories -- -- job -- a lot of them that.
The is that the other afraid still back so logs -- all of its athletes in golf and that's a fact have more so than any other country in the world.
It says -- -- today a free country very focused on dealing with its challenges and that will get them rot.
At the same job the game's changed and the real growth in the in the global economy is going to be from budgets but aria from and that major market.
We wanna come visit one of your minds come back -- a -- -- You -- -- -- -- it up and I can't see why that'll be of interest to not -- video I see those hat good any any location we will pal mark -- -- ram gold resource is CEO and yes good point the stock has performed beautifully since its IPO in 2002.
Filter by section