Cypress Capital Management Founder Richard Arvedlund on Gold (NEM; ETFs: GLD, IAU)

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Includes: GLD, IAU, NEM

From this weekend's Barron's interview:

We remain very positive on gold. When we last chatted, it was at $440 to $450 an ounce and I thought it would go to $500 by this time. It's around $475. The stocks have stayed flat the past year. But I'm looking forward to a very major upward move in gold in the next two years. Gold is hitting new highs not only versus the U.S. dollar, but against just about every major currency. The message here is broad and it is global, and it implies investor skepticism about the value of all currencies. The U.S. is doing everything in its power to devalue its currency. This is a conscious fiscal policy, in my opinion.

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