However, the indicators of the yellow precious metal, not in dollars, tell a different story. Speaking to the Investing News Network, Rick Rule, owner of Rule Investment Media, said gold is in a "bull" market in every currency in the world except the US dollar, which means most investors see higher prices than Americans.
"Gold is a pariah for (only) 23% of global GDP, and that's the Americans," he explained. In his opinion, US residents should be concerned about such factors as the total national debt, negative real interest rates and the level of government spending compared to government revenues. “If investors are concerned about these factors, they should be interested in gold and be grateful that the price is so low that it is still affordable for them,” Rule explained.
Speaking about energy, he shared his thoughts on the growing crisis in Europe, saying that North Americans should take it seriously despite having better access to commodities and energy infrastructure. “We are truly blessed, but we are still pursuing policies that are not in our best interests, and we must recognize that as the number of people on the planet increases and living standards rise, we will compete for natural resources with more and more societies - not only with Europe,” Rule told Investing News.