Rick Rule says gold’s drop below $4,000 rhymes with 1975, when the metal crashed 50% and then rose 8x, and the investors who panic-sold at the bottom missed the entire move. So is this gold selloff the buying opportunity of the decade, or a warning that more pain is coming?
Legendary resource investor Rick Rule, founder of Rule Investment Media, joins Kitco News anchor Jeremy Szafron to break down the gold selloff after the price cracked $4,000 for the first time since November and Bank of America pulled its $6,000 gold target. Rule explains why he’s pessimistic on gold in the very near term yet still buying, why he expects the political class to cave on interest rates and return to quantitative easing before year-end, and why he believes the US dollar could lose 75% of its purchasing power this decade, just as it did in the 1970s.
The conversation goes deep on the mining side too: why gold miners are being priced as if gold were only $3,354 an ounce, a 19% discount to spot, why Rule says the safest, best risk-adjusted way to own gold isn’t a miner at all but the royalty and streaming companies, the $250 billion copper-streaming wave he sees coming, the one producer he’d own (Agnico Eagle), what he sold and what he’s buying now, the real silver setup beyond the solar headlines, the coming mining takeover wave, where in the world he will and won’t own a mine, and why copper could run to $10-12.
Recorded June 25, 2026
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Rick Rule will be hosting the 2026 Rule Symposium on Natural Resource Investing, July 6-10 in Boca Raton, and Kitco will be there on the ground. The in-person event is sold out, but you can join the livestream and access the replays through the year here: (
CHAPTERS
00:00 Gold Breaks $4,000
01:17 Rates vs Gold
03:55 The 1975 Lesson
08:46 What Breaks First
14:22 The Crash, Then QE
18:31 The Miner Discount
19:52 Royalty & Streaming
27:05 Rick’s Portfolio
28:47 The Boca Symposium
32:03 The Silver Setup
39:40 The Takeover Wave
44:50 Where to Own a Mine
48:18 Copper’s Warning
50:16 Takeaways
#gold #goldprice #rickrule
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44 Comments
Rick Rule says gold breaking $4,000 rhymes with 1975, when it crashed 50%, then ran 8x, and the investors who panic-sold missed the entire move. He's bearish in the near term, and buying anyway.
Jump to:
19:52 The safest way to own gold isn't a miner
27:05 His one producer pick
48:18 Copper to $10-12
Rick's Rule Symposium (livestream and replays): https://cvent.me/XOqdLa?via=Kitco-News
Are you buying gold under $4,000, or waiting it out? Let us know below.
Get ready for your property taxes to go up. Towns will pass higher interest rates on to property owners. They gotta pay those life long pensions somehow, right!?
Avalable where blinker fluid is sold
No way he’s buying paper silver after China pulled their recent play.
Another fabulous interview from 2 experts. Invaluable insight. Very grateful for your work Jeremy. John from the UK.
It’s a darn good thing all of you bullion pundits are not fortune tellers. You’d be broken homeless.🙄
United Slaves of America …The People Demand all Control and ALL Power !!!!
Rick should have been a college English teacher.
July 24 China is going to revalue gold.
4.6 billion a day interest
Bless you Rick ❤
I feel like I just waisted 40 minutes of my life on information that was just common sense.
31:46 “well said”
Seriously? This guy is not a great speaker. He talks a lot of cloudy “uh” and not a lot of clear answers.
He is extremely tilting to listen to and actually wait for anything of value to be finally expressed.
😂Ughh… I feel like I struggled most of my life with how to manifest. Sometimes it felt so out of reach that I decided to give that archetype quiz by Vera Hart a try, and it really did wonders. It matched my personal archetype exactly, and that’s how I finally figured out how to do it properly. I highly recommend anyone who struggled like me to try it as well! It only takes a couple of minutes anyway :heart:
That can’t fight inflation now
The market is going to crash like never before China just found two world's largest gold deposits gold will crash sell sell sell sell sell sell sell I just dumped 200,000 in gold
They say it looks like to be the largest gold deposit ever discovered
They just found two large gold mines in China gold prices will fall sell sell sell sell sell soon as all this other gold hits the market the market will collapse
Bitcoin and Gold … a great combination and now we have a wonderful down market to buy both!! 💰
real value is 2000
Do tell, which market has or will crash?
I like to listen to R R twice so I don't miss anything 👍
Holding 1 futures contract at @4757 – rode it all the way down to today. Sold calls along the way every week – average collected – approx 20k. I will ride it all the way back up.
Best transfer to Asia the lower it goes. They gain wealth we gain paper bankruptcy.
Denison mines for the next Uranium Mine.
These Chinese ads for mystery farm raised fish from Wuhan CHINA is a buyer beware purchase. You can't return a dangerous product once you have consumed it. When a web site choses to advertise questionable products to the public then how good is their information.
Inflation at 3% intetest at 4.5%= 1.5% real rate! How can he get this wrong claiming that real rate is negative?
14:40 when mkt crashes, everything is sold. After crash, metals recover faster
All you precious metal gurus are just now making EXCUSES FOR WRONG PREDICTIONS.
It's disgusting how you don't care about investors or the politicization of gold. You just want to explain away why you were wrong. You people disgust me!
🤔 The ratio I watch is the TYX/!PRII ratio, when taken as a log scale chart on a monthly basis, you can perhaps estimate where the $US gold price aught to be heading.
If you cast the $US gold price in the background, you can see how important those highs and lows are when gold prices are strongly inversely correlated.
I’m thinking the next layup is a gold price low, much like in 2022, during the FTX collapse.
Markets are dead. Monopoly Finance is on the loose.
CENTRAL BANKS ARE BUYING MORE GOLD
Rick is spot on, like usual. (Pun intended) 😉
Jeremy is the best interviewer of any and all financial channels I follow. He knows his sh!t, that much is obvious. 💪🏻
Imagine if we had intelligent people like this running the country…
Mining costs increase 8-10% per year… wonder what the real inflation rate is….
Keep it going as is! Thank you for this!
When crash starts, gold to 2000.
I was buying 1 ounce gold Krugerrands for $125 each in 1976.
I save in gold and silver. Fiat pays the nut. I am my own central bank.
Rick. Just tell me. I won’t tell anyone. 🤫
Thank you, Rick, for giving so generously of your time, especially since you are retired. Been reading your advisory publications for 35 years.
They gonna try propping up the market maybe another few months but a crash is definitely coming.
I’m starting to accumulate gold at $3900. Will buy down to $3600. Will enjoy $7000 5 years from now