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The gold price has pulled back after briefly breaching the US$1,950 per ounce mark at the beginning of the month, but Adrian Day of Adrian Day Asset Management believes its prospects look positive in the long term.
“I think gold is vulnerable to any negative (news) — whether from the Fed or someone else — any negative,” he said when gold was trading just below US$1,930. “But on a sort of three, six, 12 month basis, I think this move is very, very real.”
His optimism extends to gold stocks as well. “The environment is perfect,” Day explained. “Whether we have a stagflationary period or even a recession, people tend to forget that during recessions gold and gold stocks do well.”
This interview was filmed on January 29, 2023.
#Investing #Mining #Gold
0:00 – Intro
0:25 – Gold price and the Fed in 2023
3:37 – Current health of the gold juniors
5:07 – Gold sector needs to consolidate
8:56 – What should investors do right now?
11:06 – Perfect setup for gold, gold stocks
12:25 – Outro
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
