by Chris Waltzek
Bill Murphy from GATA.org returns to the show with his latest insights on the PMs sector. He notes that market dynamics have changed. For instance, gold prices are off to their best start in a decade, while the value of more than 10 major mining companies have doubled. In the first quarter, about 1,100 fund managers including billionaire George Soros bought more than 78 million shares of Barrick Gold Corp., the world’s biggest producer. Hedge fund legend, Stanley Druckenmiller continues to add gold to the portfolio following record QE by monetary policymakers in Japan, EU, and the US. Druckenmiller bought 1.8 million shares of Barrick (ABX), up over 100% this year. Several of his colleagues concur that gold does not carry a negative interest rate such as negative yielding bonds that actually punish savers.