Investing in 2024: Rick Rule's Gold, Oil, and Uranium Forecast

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In this Wealthion interview, James Connor (@BloorStreetCapital) & Rick Rule have an in-depth discussion on the 2024 investment landscape.
Rick Rule, an investor specializing in natural resources, shares his valuable insights on gold, oil, uranium, and the overall economic outlook as we head into the new year.
Timestamps:
00:00 - Introduction
04:19 - Future Energy Prices and Government Policies
06:05 - Russian Commodity Market Influence
07:31 - M&A Trends in Oil Sector
08:08 - Long-term View on Oil & Gas Investments
09:21 - Bullish Stance on North American Natural Gas
11:00 - Investment Strategies in Natural Resources
13:15 - U.S. Policy Impact on Oil Industry
14:16 - Uranium Market Dynamics and Investment Potential
16:17 - Future of Uranium Production and Prices
18:27 - Impact of Russian Uranium Imports Act
19:10 - M&A Activity in the Uranium Sector
20:01 - Potential Acquirers in Uranium Industry
21:32 - Junior Uranium Companies and M&A Trends
24:58 - Rick's Take on Gold Investing
26:34 - The Impact of Quantitative Easing and Debt on Gold
28:36 - The Real Inflation Impact on Gold
30:13 - Why Gold Is Essential in Today's Economy
31:44 - Gold Price Movements and Future Predictions
32:51 - Competing Asset Classes and Gold's Position
34:01 - Crypto vs. Gold
35:38 - New Asset Classes and Investment Trends
39:31 - Comparing the 1970s to Today's Economy
41:16 - Natural Resource Investment Opportunities
43:19 - Rick Rule's Outlook for 2024 Investments
44:09 - Best Metals to Invest in 2024
47:54 - Closing Remarks and Wealthion Services
#investmentstrategy #goldinvesting #oilmarkets #uraniumstocks #economicforecast #2024predictions
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IMPORTANT NOTE: The information, opinions, and insights expressed by our guests do not necessarily reflect the views of Wealthion. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.
While we value and appreciate the insights shared by our esteemed guests, they are to be viewed as personal opinions and not as official investment advice or recommendations from Wealthion. These opinions should not replace your own due diligence or the advice of a professional financial advisor.
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[@TubeBoobforyou]

When Rick speaks, we all listen...

[@stevecraig3004]

Or at least ignore his counsel at our peril...

[@BrianWoodrowTN]

The way that Rick Rule disparages governments and big thinkers makes me trust him more.

[@BloorStreetCapital]

It's Jimmy from @BloorStreetCapital , thanks for the comment Brian and for taking the time to view our content! Yes I would agree!

[@TheRustyLM]

I heart Mr Rule’s sarcasm fluency 😂😂

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment and for taking the time to view our content! I love his sarcasm!

[@markussmith1114]

Rick Rule Rules!! Always a pleasure to listern and learn from this gentleman. He is a real role model.

[@jameswatson4865]

"My forecasting is unblemished by success". Dude's so witty

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment James! Agreed, there is no one more insightful and entertaining at the same time!

[@steverunswithscissors]

I always enjoy the thoughts of Rick Rule,. He names the companies that may make a move soon and offers his expertise in a concise and easy to understand way.

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment Steve and for taking the time to view our content!

[@garyschneider6644]

Rick’s devilish sense of humor is a the cherry on top of his wisdom.

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment Gary and for taking the time to view our content! He does have a sharp tongue!

[@TubeBoobforyou]

100% spot on...

[@mattanderson6672]

Love Rick Rule!! Always happy to listen to his opinon!!

[@BloorStreetCapital]

It's Jimmy Connor from @BloorStreetCapital, thanks for the comment and for taking the time to view our content! Rick is certainly one of the best!

[@joemccarthy7120]

I enjoyed listening to this guest. It is hard to know where to invest if one is wary of investing in the seemingly wildly overvalued big tech stocks. People seem to have quickly forgotten how quickly wealth vanishes in that sector, even as recently as early this year. I am old enough to remember many of the once invulnerable tech companies in the early days of the internet that have simply vanished. This interview does seem to provide an insight into old fashioned alternatives. I am also pretty old fashioned.

[@larrybarken8443]

Jimmy and Rick are 2 of my favorites

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment Larry and for taking the time to view our content! Wish all the comments were this positive!

[@markwade3509]

Thank you James for a great interview. A lot of valuable information to ponder! Seasonal greetings! 🤪

[@BloorStreetCapital]

Thanks for the comment Mark and the ongoing support! All the best!

[@Stocksavvypr0]

Insightful video! Your expertise in forecasting gold, oil, and uranium is commendable. I'm curious about your opinion on Fuse Minerals, a junior mining exploration company in Australia. With their upcoming IPO on the 8th of Feb 2024, backed by figures like Warren Mundine and John Hancock, it could be an interesting addition to your future discussions.

[@bobwesterman9959]

Thank you gentlemen

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment Bob and for taking the time to view our content!

[@PeterKruseMusic]

Rick Rule on Wealthion? What a treat!

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment Peter! We have him lined again in Q1.

[@joeysocks5718]

This was really good, I watched it twice. 👍🏼

[@Wealthion]

Great to read this! Thank you for watching and please let us know what other guests you'd like to see more of!

[@ericdoheny9108]

Rick is an absolute research MACHINE to rattle these specifics off the top of his head. It’s much appreciated, and his sense of humor is as dry as my ruby Pinot. Cheers to a New Year of investing

[@BloorStreetCapital]

It's Jimmy from @BloorStreetCapital , thanks for the comment Eric and for taking the time to view our content! Agreed, not sure how he does it. HNY to you!

[@Nycjedipc]

Love Rick learned a lot from this gents James is always a pleasure and keep up the good work Boyz happy holidays

[@BloorStreetCapital]

Thanks for the ongoing support Peter! Let's hope it keeps going in 2024!

[@robertcurtin-de7sr]

Does Rick Rule ever consider the horrific environmental impact fossil fuels and gold mining have done to both people and planet??? No wonder that people who care about Climate Change and The 6th Mass EXtinction now taking place view people like Rick Rule with disgust and loathing!!!! This person is motivated by greed and arrogance!!! Comments Always Welcome!!!

[@cdmorrissy3692]

I've bought 1,200 ozs. of 90% U.S. Silver coins and Silver Maples, in addition to 24 - 1 oz. Gold Maples last month, and I'll buy another $20,000 (or more) in the next few weeks.. I believe it's a smart thing to do in this troubling and threatening time.

[@BloorStreetCapital]

It's Jimmy Connor from @BloorStreetCapital, thanks for the comment and for taking the time to view our content! Nothing better then gold in the hand!

[@calebfast8088]

Great interview! :)

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment Caleb and for taking the time to view our content!

[@RolfStumpfRailMedia]

Rick Rule receives a thumbs up in advance. This geologist approves the content 😅

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment and for taking the time to view our content! Agreed, 2 thumbs up for Rick!

[@calebfast8088]

Lol Same for me. Even mention the guy and you'll get a like! Hahaha

[@mikegould9278]

Great one Jimmy

[@BloorStreetCapital]

It's Jimmy Connor from @BloorStreetCapital, thanks for the comment Mike and for taking the time to view our content!

[@JS-jh4cy]

Gold started at 24:00 abouts

[@LK5860]

It's true, Rick does "Rule"! What a clear Communicator!👍

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment Larry and for taking the time to view our content! I envy his communication skills!

[@pedroabreu1754]

With that information about US oil future, and seeing the buying of OXY by warren buffet really gives us a perpective that maybe this is something to think about in a 5 years investment

[@BloorStreetCapital]

It's Jimmy Connor, thanks for the comment/question and for taking the time to view our content! Never bet against Warren Buffett!

[@user-vp4cm6vo6d]

I love the way this guy speaks 🎶

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment! Agreed, I'm envious of his abilities!

[@BrianWoodrowTN]

"Sour crude oil" means it is contaminated with sulphur. This is common with crude oil. Sulphur (hydrogen sulphide: H3S) makes crude oil more dangerous to produce and more expensive to refine. The opposite is sweet crude oil. Sweet crude means it has no sulphur. There is nothing desirable about sour crude. Processors would rather take sweet crude, but it is all mixed together at the facilities, so it doesn't mean much.

[@jmcmob608]

Thank you very much...

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment and for taking the time to view our content!

[@Stimming-]

when we say hold gold as insurance is it safer to hold physical or stocks or both?

[@BloorStreetCapital]

It's Jimmy Connor from @BloorStreetCapital, thanks for the comment/question and for taking the time to view our content! In my personal opinion I prefer physical gold. No operational risk and no jurisdictional risk.

[@BenBak-wt7qi]

We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the stock market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.

[@xavier_lucas]

People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

[@FranciszekPawal]

If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market, maybe with the help of a financial advisor.

[@BloorStreetCapital]

It's Jimmy Connor, thanks for the comment and for taking the time to view our content! You are bang on about inflation and the CPI!

[@nathanbarker616]

I wish rick rule had his own channel

[@BloorStreetCapital]

It's Jimmy Connor from @BloorStreetCapital, thanks for the comment Nathan and for taking the time to view our content! I am actually surprised he doesn't.

[@xfgteear1]

This guy is awesome

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment and for taking the time to view our content!

[@electronpictures]

rick rules! always fulfilling

[@BloorStreetCapital]

It's Jimmy from @BloorStreetCapital , thanks for the comment and for taking the time to view our content!

[@TB-ki1ux]

Great guest, Rick Rule!

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment and for taking the time to view our content!

[@JM-gu3tx]

Some of the captions were dismally translated.

[@scottyflintstone]

18:33 can someone explain to me what "Supply Heaven" is? Why wouldn't Sprott start selling uranium now that prices have increased?

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment Scotty and for taking the time to view our content! I don't believe they are allowed to do that under the current regulations but I will confirm this the next time I interview the Sprott team.

[@gsetters]

They aren’t permitted to sell. Would require a share holder vote to permit that, which is very unlikely to pass. Sprott is attempting to get regulatory approval to have utilities to redeem but that would be very limited in nature so as to not flood the spot market.

[@martinithechobit]

Rick the best.

[@BloorStreetCapital]

It's Jimmy Connor from @BloorStreetCapital , thanks for the comment Martin and for taking the time to view our content! He certainly is!

[@prygler]

Silver is more hated than gold

[@frankbeneditto2648]

could not agree more, i;m at the point now that i want to sell all my silver eagles and i own a few thousand

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment and for taking the time to view our content! Yes, silver is definitely unloved.

[@theadirondackstacker]

Silver has been disappointing for decades.

[@ericdoheny9108]

Look at the top Couer Mining’s trailing month. Or Majestic or Pan American. The juniors exploding

[@danyoyoh]

Yep. Most hated asset in existence, id say

[@toppersunglasses9288]

Love Rick

[@BloorStreetCapital]

It's Jimmy from @BloorStreetCapital , thanks for the comment and for taking the time to view our content!

[@simonweiguny]

12:06 why did Birchcliff Energy drop so fast lately?

[@BloorStreetCapital]

It's Jimmy Connor from @BloorStreetCapital, thanks for the comment/question and for taking the time to view our content! I don't know but it sure got drop-kicked.

[@dustinmontgomery7063]

If oil goes down, then what about gold and silver?

[@BloorStreetCapital]

It's Jimmy Connor from @BloorStreetCapital, thanks for the comment/question Dustin and for taking the time to view our content! If oil goes down then inflation goes down and IR go down and the USD will go down and gold will go up.

[@jimallen833]

Well done gents! I always enjoy Rick's insights as well as his humor but I hope he is wrong about the '70s being repeated. I lived through that and don't want to see it again.

[@BloorStreetCapital]

Thanks for the ongoing support Jim! Rick always dispenses great wisdom!

[@getoutthere04]

Well, the government tells us they know best about going green when people are struggling with gas prices and putting food on the table , nevermind $10 burritos in AZ due to inflation. Tesla is not in my future, my corolla is. As Rick mentioned, no investment in oil infrastructure and policies that hurt the consumer from making independent choices on transportation and food will hurt the economy (not in inflation numbers or cost of rising taxes). Maybe the gov knows best, but I would disagree.

[@jimallen833]

@@getoutthere04 so true about food inflation (burritos) evetime I go to McDonalds I spend $20 just for me. I remember not too long ago it was only $5

[@G_Ellis606]

Demand for Gold and Gold miners has shifted to Bitcoin IMO. That being said, I still own Gold and Gold miners.

[@BloorStreetCapital]

It's Jimmy Connor from @BloorStreetCapital, thanks for the comment and for taking the time to view our content! I agree 100%. A total shift in demographics.

[@aryahd8260]

Yes, but how long before it moves more. It’s great for those who bought then, but now not so great

[@BloorStreetCapital]

It's Jimmy Connor from @BloorStreetCapital, thanks for the comment/question and for taking the time to view our content! Are you referring to gold or uranium?

[@aryahd8260]

@@BloorStreetCapital Gold

[@BloorStreetCapital]

@@aryahd8260 You can argue it is still cheap. The money supply has doubled in the last 4 years and many real assets have doubled or more but gold has not.

[@geoffg9721]

I think during the 2008 crisis debt was closer to 50% of gdp. Still a problem none the less.

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment Geoff and for taking the time to view our content!

[@gabrielw7773]

So what's resilient about the economy? I mean the stock market and economy are separate because the stock market can be held up with money printing. This wasn't being said right before the October start of a rally where they started pumping herds of money printing. Oil has just started to catch up with all this money printing that is causing inflation.

[@patricklafontaine137]

The stock market is one indicator of the economy and right now it is saying it's all back on!!! Oil is a function of supply and demand fundamentals and right now more supply from US, Venezuela and Iran.

[@darren3490]

I saw Scaramuchi and instantly UNSUBSCRIBED TO WEALTHION

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment Darren. The Mooch is only on Fridays so why not watch the channel the rest of the week?

[@darren3490]

@@BloorStreetCapital he stains the whole channel. I cant enjoy it

[@capitalist4life]

Where is Adam Taggart?!? There’s been a coup!

[@livingsimply6283]

Where is Adam Taggert?

[@livingsimply6283]

Ha. Found him.

[@Wealthion]

Adam has departed Wealthion to start his own independent venture. The Wealthion Team will continue to produce informative content and timely insights to help you become more financially resilient.

[@prygler]

​@@livingsimply6283 he made his own channel

[@frankbeneditto2648]

who cares

[@ronfesta771]

Me thinketh listening to Rick is similar to an amateur., running a race with a..........triathlete!@!?🤪😜😉

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment and for taking the time to view our content! I would agree!

[@johnelliott672]

Rick's wrong. Uranium price has to go higher period.

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment and for taking the time to view our content! Agreed, and any pullback is a gift!

[@johnelliott672]

Cameco cannot meet commitments and has to buy lbs and Kazatomprom is not spending capex in line w expansion claims. Rick seems behind. Even if all producers were 100% to meet guidance it's simply not enough. 80 dollars today isnt enough. Inflation. Personnel issues etc.

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment John and for taking the time to view our content! Agreed 100%! No other trade has such compelling fundamentals.

[@papasmurf7144]

I wonder how the outlook changes if Trump were to win?

[@BloorStreetCapital]

It's Jimmy Connor from @BloorStreetCapital, thanks for taking the time to view our content and what a great question for our next discussion.

[@donniemoder1466]

Crypto, has partially reduced much of the usefulness, utility, of gold. Only central bank preference for gold will keep price up.

[@BloorStreetCapital]

It's Jimmy Connor from Bloor Street Capital, thanks for the comment Donnie and for taking the time to view our content! Good point about Central Banks. If they weren't buying where would gold be?

[@danyoyoh]

Crypto is mostly pointless tho, outside of BTC ETH XMR thats about it