+49 30 6521 24928 (GER / ENG) support@bar9.com

Gold Bug Profile: Richard Russell

JP Buntinx
April 26, 2020

Over the past few decades, multiple gods bugs have come and gone. Some of these individuals are no longer among us, including Richard Russell. That doesn’t mean they shouldn’t be remembered, however, as everyone has contributed – or still contributes – in their own way even today.

Who was Richard Russell?

Most people who have spent a few decades on this planet will have come across the name Richard Russel. Although Richard sadly passed away on November 21 in 2015, he has been an active contributor to the finance industry in his own regard. 

Russell is most “famous” for his Dow Theory Letters newsletter. Initially created in 1958, The letters covered multiple financial topics, including the stock market and precious metals. Even despite Russell passing, the letters are still widely regarded to be of incredible value.

Over the decades, Russell got a positive reputation for making multiple “exceptional market calls”. Back in 1960, Russell was the first to recommend gold stocks as an investment option, an assessment that has certainly put a bigger spotlight on that particular industry. 

Russell also called the top during the bull market run affecting stocks in 1966. Eight years later, he successfully declared the bear market to be over again. Both predictions came true at the projected time, further adding to his reputation within the financial sector.

Richard Russell on Gold

By actively covering the precious metals market, Russell gained a lot of insights into gold, silver, and other popular assets. It is this knowledge that allowed him to have  a solid opinion on these assets altogether and share those with readers of the Dow Theory Letters. 

Roughly a decade ago, Russell hinted at how the gold price was on its way to record highs. It did not take long for that vision to come true, as gold effectively hit a 1.1 to 1 ratio with diamonds on the NYSE through its GLD:DIA listing. 

A lot has changed in these past 11 years, but it just goes to show that analyzing different markets needs to be done through various efforts. It is important to look just beyond the US Dollar value of gold or any other assets on the market today.Their internal relation with other similar assets can often tell a very different tale compared to looking at flat values.

Richard Russell and the $6,000 Target

One interesting gold price prediction by Richard Russell came in 2011. This is a time when Russell was upset by something Warren Buffett said. That latter person claimed that gold should be denounced at that time, a comment that didn’t sit well with gold bugs all over the world.

It was also at this time that Russell made the boldest gold price prediction. He remained confident that gold would eventually hit a value of $6,000 per ounce. It is not impossible by means, as he claimed how gold only multiplied in value five times. There is no reason to think it could not keep multiplying from its $255 value when a major bull run occurs. 

So far, there are ample expectations of the gold price hitting $2,000 in the coming months. Bank of America recently pushed that target to $3,000 in the next 18 months. That would still only be at the halfway point initially envisioned  by Russell, thus the coming years may prove to be incredibly interesting.

Easily open your Swiss tax free gold vault in under 6 minutes

It’s Free to open a Swiss vaulting account, you can buy and sell gold directly to it instantly.

0 Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Gold Bug Profile: Alan Greenspan

There are many pathways in life which can influence the future of one’s existence. For Alan Greenspan, one pathway of particular influence is called Objectivism.

Silver Bug Profile: Nathan Eric Fier

Many individuals have shown their love for gold, silver, and other precious metals over the years. Nathan Eric Fier is certainly a silver bug, although he pays close attention to gold as well. Who is Nathan Eric Fier? People with a link to the financial industry will...

South Africa may Shut Down its Gold Mines due to the Coronavirus Crisis

This news coming out of Mongolia is rather surprising. Unlike other countries, it would appear that this region is still providing ample access to gold deposits.

Gold Bug Profile: Doug Casey

The name Doug Casey will ring a bell with financial buffs due to his 1979 book. Titled “Crisis Investing”, it quickly rose the ranks to become the number one The New York Times Non-Fiction Best Seller in 1980.

Silver Bug Profile: Keith Neumeyer

Keith indicated that there would be a new bull market for all precious metals in the next few years. So far, 2020 has proven that sentiment correct, although $130 remains a lofty silver price target.

Silver Bug Profile: Ralph Aldis

Ralph Aldis has also been named twice as a US Metals and Mining “TopGun”. This title is “awarded” by Brendan Wood International every single year. He is also the Best Americas Based Fund manager in 2016, awarded by Mining Journal.

Gold Bug Profile: Judy Shelton

It is interesting to note that Judy Shelton may join the Federal Reserve Board of Governors in the near future. Assuming that will be the case, some very interesting things are bound to happen in the near future.

Gold Bug Profile: Eric Hommelberg

In the Dutch community, Hommelberg made a name for himself by highlighting several junior gold mines as possible investment options. Those who followed his advance often made a lot of good money in the process

Silver Bug Profile: Jeff Clark

Over the past decade and a half, Clark has put the majority of his focus on analyzing the precious metals mining industry. BIG GOLD by Casey Research, a world-renowned publication, has been one of his outlets.

Gold vs Negative Interest Rates

The world is teetering on the brink of a new economic policy. Not one that was written about by capitalism's founding father Adam Smith, or even John Maynard Keynes, but a giant experiment in which we will all be the subject. Negative interest rates threaten to turn...

Silver Bug Profile: Rick Rule

When it comes to the silver market, Rick Rule hasn’t shied away from expressing his sentiment at certain times

Gold Bug Profile: Crispin Odey

Over the years, the name Crispin Odey was often named in association with gold and other precious metals. Particularly during the coronavirus crisis, Odey expected the value of gold to move up again.

Analyst Outlines how Silver is a Seriously Undervalued Asset Right now

Everything comes down to how things will evolve over the coming months. If the demand will pick up again, and the supply remains very limited, things may begin to shift in a few months from now.

Why is Silver so Cheap?

One often heard comment is how gold is the scarcest precious metal of them all. Silver, unfortunately, doesn’t have the same benefit, as it is far less rare.

The Many Use Cases for Silver Part I: Electronics, Energy, Soldering, Chemicals, Photography

Unlike gold and most other precious metals, silver has plenty of industrial use cases. More importantly, these use cases are quite varied. It is thanks tot his aspect that demand for silver hasn’t diminished all that much due to COVID-19.

Silver Price Likely to Keep Surging as Production Deficit Looms Overhead

It is expected there is a 13% decline in silver production from Latin America. This will, in turn, trigger a decrease in the yearly global silver supply by as much as 7.2%.

Gold Bug Profile: Thomas Kaplan

The first link with precious metals became apparent in 1993. At that time, Kaplan founded Apex Silver Mines, taking up the role of chairman and chief executive officer.

The Many Use Cases for Silver Part II: Engines, Hygiene, Mirrors and Windows, Dental Fillings

Throughout the centuries, silver has found a use in many different segments and industries. Some of these are still viable today, whereas others have been abandoned a while ago.

Gold Bug Profile: Eric Sprott

It is also worth noting that Eric Sprott sold his first company – known as Sprott Securities – back in 2011. Interestingly enough, the company was purchased by other staff members.

Gold Bug Profile: Bob Kirtley

Kirtley is renowned for maintaining an approach focused on planning and cost control. That expertise eventually translated to his investment strategies as well.

Translate Blog Post

Article Categories

Blog Stats

  • 82,650 hits

Follow the CEO on Twitter

%d bloggers like this: