The gold price has rebounded from its highs earlier this year, but continues to serve its purpose.
Rick Ruhr, CEO of Ruhr Investment Media, said. He told Investing News Network that yellow metal has performed as expected so far in 2023, preserving purchasing power and providing stability.
“Gold to me is liquidity, a store of value and insurance. So I am very happy with the performance of my gold holdings and add gold quite regularly,” he said, referring specifically to bullion.
Ruhl also shared his thoughts on uranium, saying the situation remained positive, although the sentiment was “terrible.”
“I think we’re in the stealth uranium bull market again. I think what we’re going to see in 2023 is a small increase in the spot market, but I think we’re going to see a big increase in volume … it’s happening in the term market and the contract market,” he said.
Sector giant Cameco (TSX:CCO, NYSE:CCJ) has had a strong year, up more than 35% year-to-date, but small businesses aren’t doing as well. When asked when it would start working, Ruhl said he was looking at catalysts.
“What you are starting to see is not just the Cameco companies in the world, but rather the second-tier uranium companies are starting to sign five- to seven-year fixed-market contracts at prices high enough to establish new production or carry out production that has been dormant,” he explained during the conversation.
“I think that’s when the industry really, really recovers. That’s when the stock price recovers.”
Besides gold and uranium, Ruhl also touched on the oil and gas sector and the fertilizer industry. When it comes to Canada’s natural gas market, he said Prime Minister Justin Trudeau’s government is stifling the country’s prosperity and urged caution, but said Canadian oil and gas stocks continue to offer “extraordinary value”.
As for manure stocks, he agreed it was not good, but quipped that there are eight billion people on Earth who need to feed. “For example, without the input of Nutriene (TSX:NTR, NYSE:NTR) … we cannot feed eight billion people,” he said.
Watch Rule’s interview on these and other topics.you can also click here Learn more about the Rules Symposium in Boca Raton, Florida, July 23-27, with livestream options available.
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Securities Disclosure: I, Charlotte McLeod, have no direct investment rights in any company mentioned in this article.
Editorial disclosure: Investing News Network does not guarantee the accuracy or completeness of information reported in interviews. The opinions expressed in these interviews do not reflect those of Investing News Network and do not constitute investment advice. Readers are encouraged to conduct their own due diligence.
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