Tocqueville's Hathaway: China has it right about gold and the dollar

Tocqueville Gold Fund manager John Hathaway's third-quarter letter to investors details how the fundamentals for a much stronger gold price remain in place, and he cites many of the developments to which GATA has called attention in recent weeks.

Hathaway's letter concludes: "We take comfort that our positive view of the future dollar gold price is shared by those who understand the difference between synthetic and physical metal and who regard the real substance as a matter of strategic imperative, not as a plaything for macro traders. We believe that China's negative assessment of the future prospects for the U.S. dollar is correct and that our investment strategy of investing in the shares of value-creating gold miners offers sensible and dynamic exposure to the inevitable repricing of gold in U.S. dollars."

Hathaway's letter is posted at GATA's Internet site here:

http://gata.org/files/TocquevilleGoldStrategy...erQ3-2014-3.doc