Sprott Chief Sees Good Things For Gold

Feb 8 2010 | 8:33am ET

Canadian hedge fund manager is betting big on two kinds of gold.

Eric Sprott offered a bullish take on gold’s future. The founder of Toronto-based Sprott Asset Management also pledged some gold to support the future of Canada’s athletes, promising a donation for every gold medal won by a Canadian at this year’s Winter Olympics, which are to begin in Vancouver, British Columbia, this week.

Sprott estimates that gold, currently sitting at about $1,067 per ounce, will soar 40% to $1,500 by the end of this year. And the distant future is even brighter, with Sprott predicting that price will double to $2,000 next year.

Sprott has about 40% of his fund’s assets in gold.

His optimistic take on the precious metal will certainly be music to the ears of another hedge fund manager: John Paulson’s gold-only hedge fund dipped 16% in its first month of operation, a rare misstep for the Paulson & Co. founder.


In Depth

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.