In an appearance on CNBC, VanEck CEO Jan van Eck sounded a bullish tone regarding the commodities market.
Van Eck credited various factors as pushing commodity prices higher (VanEck Gold Miners ETF is up 10 percent on the year, and VanEck Oil Refiners ETF is up 9 percent on the year), including positive China manufacturing purchasing managers’ index (PMI) numbers as well as heavy fiscal spending from the U.S. government.
“Fiscal spending is running so super high,” van Eck said. “That’s leading to this global growth trade, too. So that’s why I like commodities because I think it’s more than just a headline.”
To watch the full interview on CNBC and to read Meredith Mutter’s full article on CNBC, click here.