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Rick Rule: "Eventually Arithmetic Triumphs Over Narrative"

Mining Stock Daily

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Is the BOE Decision a Safe Haven Move?

Rick McGahey: The BOE decision lit a fire back behind precious metals as a safe haven move. He says what matters to the gold price is confidence in US dollar denominated sovereign debt. I'm afraid that there is an inevitability of higher nominal gold prices, he says. But if gold were to follow from its current level to say $1,500 US dollars, McDermott would be a buyer.

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