Feb. 3 (Bloomberg) -- Eric Sprott, the Canadian money manager who last year predicted banking stocks would collapse, said the U.S. is at the beginning of an economic depression that will help gold prices more than double.
Bullion may top $2,000 an ounce in coming years amid a series of financial catastrophes, the chairman and founder of Toronto-based Sprott Asset Management Inc. said yesterday in an interview. Banks will battle to replenish capital, Treasury auctions stand the risk of failing and the moribund economy will create a dire operating outlook for many companies.
Proven resources in SBS will be the target from the big Goldminers. Global Goldproduction is going down, but companies with proven resources have and excellent outlook and ad. value to the sp.
SBS Price at posting:
2.0¢ Sentiment: LT Buy Disclosure: Held
