Meanwhile, Fidelity is on the bull case for gold

We contrarians cringe when sentiment gets too frothy, gold is pumped on CNBC and a respectable titan of the conventional investment world speaks of gold as an “asset class”. We cringe, but also realize that at some point in the process, the public is gonna go all-in. At least that’s the script that is usually followed.

A Case For Gold –Fidelity Viewpoints

Edit (11:16) And upon actually reading the entire interview, my conclusion is that the guy is just a conventional “asset class” manager cross dressing as a gold bug. I would think that if he truly believed his own bullshit, he would think about physical first, as an anchor. I think a lot of these gold stock fund managers have to tell themselves (and others) that gold stocks are preferable to gold. They are preferable price-wise on rare occasion, potentially like the one upcoming. But to someone truly interested in preserving wealth on the long term? I think not.