Loki, you misinterpret him. He is neither gold guru or propagandist. He is far more multifaceted than that. He also advocates buying natural gas, uranium, wheat, corn, sugar and rice. Believe it or not he also advocates buying Treasuries when the time is right (and we are nowhere near this point).
His current position on gold is simple - gold is going to explode upwards over the ensuing years, BUT the volatility will financially destroy most of us anyway because most of get carried away by emotional factors that cause us to overextend in to price rises, and then close mostly-losing positions as prices fall.
The present situation is an example of this. Gold sentiment is poor and gold equities (collectively) haven't provided the leverage many expected for years now. Many are reaching the end of their rope. He knows this, and therefore advocates you buy this weakness with the understanding it could get worse, and therefore be prepared to buy more if that happens.
I took some of his advice onboard in 2009. In the ensuing 2 years Ive covered all my losses from 2006 onwards by closing numerous trading positions. My outstanding trading positions (net exposure) remain in the black. My net long term positions are all in the black.
