AuAg Funds CEO reveals the real "rocket fuel" for the gold price
London, UK
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October 31, 2023 04:13 AM Eastern Daylight Time
AuAg Funds founder and CEO Eric Strand speaks to Thomas Warner from Proactive London about the outlook for the gold price, following a period in which its status as a safe haven asset has been firmly underlined. Strand suggests that a softening of the US dollar will ultimately prove to be "rocket fuel" for the gold price, which has continued to find it difficult to burst through the long-established $2,000/oz ceiling despite geopolitical turmoil.
He suggests that the US financial system is quickly approaching the point of being so debt-laden that real economic stresses begin to appear, in turn forcing the federal reserve to "pivot" and start cutting interest rates again. This in his view would prove highly supportive of the gold price and of gold mining companies, who with gold at $2,000/oz are already making very healthy margins.
He also gives an overview of the latest developments at AuAg Funds itself, saying that its three daily-traded UCITS funds are trading well and that the AuAg ESG Gold Mining UCITS ETF (ESGO) is "becoming really big", surpassing US$60mln.
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