"I have never seen gold stocks as cheap at today's gold prices as they are right now."

"Had you, in 1970, had 5% of your portfolio in gold, you could easily have lost 50% of your bond holdings and 50% of your equity holdings, and broke even at the end of the decade on 5% of your portfolio that was invested in portfolio insurance." #Gold

“Savings: that’s gold. Investing: that’s the big gold stocks. Speculating: that’s the gold juniors. They’re three different businesses. Everybody should be in the first business; everybody should save in #gold.”

"There’s enough leverage in the high-quality #silver stocks that I don’t need to expose myself to the leveraged companies. Putting it in stark arithmetic sense, I don’t need a 5% probability of a 30-bagger when I can engineer a 70% probability of a 4-bagger."

“For me, the essence of wealth is enhancing one’s sense of well-being. It isn’t just a total count, and the ownership of physical #gold as a savings asset enhances my sense of security and well-being.”

“Gold has, for a millennium, probably more, functioned as a medium of exchange and a store of value, which is to say real money. It is not a promise to pay. It’s payment itself.”

“Since the Federal Reserve was enacted, according to our government, the purchasing power of the U.S. dollar has declined by 97% That is evidence not merely that a crime has occurred, but that there is a victim, and that victim is the class of citizens commonly known as savers”.

If you were buying today, which would you purchase: physical gold or silver? Rick “ Gold, because my motivations are cowardice, not greed. I express my greed in areas where I have durable competitive advantage - junior mining stocks and community bank stocks, as an example.”

“I don’t think that the U.S. government has any choice but to, over time, maintain artificially low interest rates, but also to fund the debt and deficits through what they would describe as quantitative easing and what you and I would classify as counterfeiting.”

"In the very near term, I would argue that the #gold price will fluctuate depending primarily on US nominal and real interest rates."

“The best industry we’ve talked about is the #oil industry. The most certain outlook is in oil. The highest quality companies are in oil. The largest free cash flows are in oil. The best balance sheets are in oil. The least volititity is in oil.” September 4th 2026.

"I think that most people, even those who express an affection for #gold, don't own enough of it."

“I think that we’re 20 years through a 30-year bull market, meaning I think it has 10 more years to go.” #gold

“In my 50 years of investing and speculating, I’ve learned that parabolic upmoves always resolve themselves to the downside, and so I always sell parabolic upmoves. And if I like the asset class, I always buy parabolic downmoves.”

“I believe that, for the balance of my lifetime, the U.S. dollar will still be the world’s reserve currency. I just believe that its market share will fall. The fact it remains the world’s reserve currency does not mean that it should constitute the cornerstone of my savings.”

“Absent a Chernobyl or a Fukushima, absent a catastrophe, the probability that #uranium is the fuel of the AI business is 100%.”

“#Silver isn’t hated yet. It’s disappointed, but there’s still hope in the market. I look for a market where the people who were hopeful now despise the sector, and we’re not even close to that with silver yet.”

“The best time to buy straw hats is in winter, and you're in winter. So, figure out what kind of hat you want.”

“I’ve seen, in the last five weeks, two of the best drill holes I’ve seen in 50 years in exploration finance. The Mogotes Metals $MOG drill hole in the Vicuña District, in northwest Argentina. Arras Resources’ $ARK drill hole in Kazakhstan, another porphyry copper hole of similar tenor. Neither of these are investment recommendations.”

“Where you store your #gold is extremely important. I don’t buy gold to increase my worry, and having my gold stored at a facility where I don’t understand the balance sheet or income statement is a non-starter. I don’t do business with fiduciaries that aren’t publicly quoted.”