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"Big Moves" Are Ahead For Gold - Auryn Resources CEO

Gold started off 2018 strong, as is typical for January and February, but one mining executive says the yellow metal may see stronger moves higher.

Ivan Bebek, Executive Chairman of Auryn Resources, told Kitco News on the sidelines of the Vancouver Resource Investment Conference that sentiment for gold is currently high, and investors should expect “big moves”, but only towards the end of 2018.

“I think that $1,400 [an ounce] is a very big level for investors, and if we can break that, I think we are in a whole new paradigm for the gold market,” Bebek said, “you might see an explosion from there.”

On bitcoin, Bebek said that the world’s largest cryptocurrency has pulled everyone out of the gold space. “I think it’s wrong to compare gold and bitcoin to each other, and the market is starting to realize that now,” he added, “I don’t like [bitcoin’s] vulnerability…I’m really happy with real assets.”

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MARKET SUMMARY

INDICES

Name Last Change
DOW 24753.10 0.24%
S&P 500 2721.33 0.24%
NASDAQ 7433.85 0.13%
TSX 16075.67 0.24%
TSX-V 775.41 0.00%

Resource Commodities

Name Last Change
Gold 1301.61 0.25%
Silver 16.51 0.97%
Copper 3.07 0.020
Platinum 902.03 0.000
Oil 67.88 4.17%
Natural Gas 2.94
Uranium 22.80 0.00%
Zinc 1.37 0.00%

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