Bill Gross, the world’s largest bond fund manager and founder of PIMCO, received a significant amount of media attention today after proclaiming that “the cult of equity is dying.”
In his latest monthly Investment Outlook, Gross essentially argued that the long-held view by many investors of stocks for the long run is fatally flawed. Furthermore, he asserted that investors should considerably lower their expectations for the broader financial markets going forward.
However, while Gross’ outlook for equities as a whole was quite cautious, he described an economic environment moving forward that has historically been very favorable for gold prices.
Although Gross did not mention the word gold anywhere in his piece, he contended that investors “Should continue to expect an attempted inflationary solution in almost all developed economies over the next few years and even decades. Financial repression, QEs of all sorts and sizes, and even negative nominal interest rates now experienced in Switzerland and five other Euroland countries may dominate the timescape.”
As GoldAlert has discussed on numerous occasions, further money printing and negative interest rates have been two of the driving forces behind the gold bull market in recent years. If these factors remain and/or intensify, the yellow metal could be headed to a new record high.
Aurizon Mines Extends Mineralization at Casa Berardi
The program is focused 300 meters below and 100 meters above the 810 meter level and covers an area of 300 meters along strike, 400 meters in width, and is approximately 1.0 kilometer east of the West Mine shaft. Of the 24 new holes included in the latest results, 14 of them contained 18 mineralized intervals with a metal factor (true width x gold grade) of 10 or higher. Full Aurizon Mines Press Release.
- 10.1 grams per tonne (g/t) of gold over 13.9 m at Hole-0430 within the known resource block
- 6.7 g/t over 25.0 m at Hole-0368 located outside of the known resource block
- The results confirmed the continuity of previously identified lenses and indicated new mineralized lenses outside of the known resource block
- Based on these results, underground in-fill drilling will continue until year end and an updated mineral resource estimate will be completed as of December 31, 2012
