Feb 06, 2021 Guest(s): David Elliott VP & Director, Haywood Securities
Gold has already moved from $1,250 to $2,000 in a very short amount of time, and the metal is simply in a consolidating phase right now, said David Elliott, a founding partner of Haywood Securities, which has grown from an office of 15 employee in 1986 to becoming one of Canada's premier mining financiers with $10 billion in assets under management.
"A lot will depend on the U.S. dollar. I think the U.S. dollar has made its highs during the Trump Administration," Elliott said. "If you can get the emerging markets to show some growth, that's going to create more of a demand for metals and if you don't have the growth, then I can see it taking longer [for prices to break out]."
For his contributions to financing the mining sector over the last three decades, Elliott was recently inducted into the Canadian Mining Hall of Fame.
Elliott's comments come as he joined the Association for Mineral Exploration's Remote Roundup in January as a keynote speaker.