Bob Brackett
speaker
400 appearances
1 recordings
1 series
first heard Nov 2024
last heard Nov 2024
Bob Brackett’s voice in public audio — every appearance, attributed to the second.
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Appearances
If it's in the middle, it'll stay in the middle.
I'm still of the view, we we at Bernstein are still of the view that gold works from here.
And a couple ways to think about it, which is always kind of the supply and demand.
We've gone back and looked at every rate cut cycle and we've looked at every individual rate cut.
In a world where rates are being cut, check, and where the Fed succeeds in bringing long-term interest rates down, gold has always gone up.
And so our view is if you think the Fed succeeds, then gold goes up.
Where we struggle is to what level?
Right.
The one, the speed at which gold has moved this year surprised even us.
And two, the level uh is a bit tricky.
On the supply side,
Mining companies, gold mining companies, will brag about ore grades that are a gram per ton.
One gram per ton.
That's one part per million.
And so to make money in gold mining, you have to take a ton of rock, blast it out of the earth, grind it to flour, find the one part out of that million, and that gram is worth 90 bucks today, right?
A gram of gold is nine.
I've got to make a business uh of finding a needle in a haystack, and I gotta do it for 40 or 50 bucks a ton, and I've got to safely dispose of that deposit and then move on and find the next one.
So it's a tough business.
Long-term, absolutely.
It is stunning the ability.
Showing 241–260 of 400 · page 13 of 20
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