Sprott Says U.S. Depression Will Boost Gold Price (Update1)

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Sprott Says U.S. Depression Will Boost Gold Price (Update1)

By Stewart Bailey

Feb. 3 (Bloomberg) -- Eric Sprott, the Canadian money manager who last year predicted banking stocks would collapse, said the U.S. is at the beginning of an economic depression that will help gold prices more than double.

Complete Article Here: http://www.bloomberg.com/apps/news?p...=ao7hCvQA9QZ0&

Excerpt:
Greenlight Capital Inc., a $5.1 billion New York-based hedge fund, has invested in gold for the first time, while Federated Investors Inc.’s $1.3 billion Federated Market Opportunity Fund, which outperformed 99 percent of rivals last year, now counts Yamana Gold Inc. and Goldcorp Inc. among its largest investments