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Gold stocks are an “amazing buy” right now, according to Adrian Day of Adrian Day Asset Management. But investors are understandably wondering when they’ll move.
Day believes one factor that would help is for the gold price to stay consistently above US$2,000 per ounce. Another would be a rollover in the broad market. While he’s not expecting a crash, Day said a slow rotation out of growth and tech into value and would be helpful for gold stocks, oil stocks and commodities stocks more broadly.
This interview was filmed on July 26, 2023.
#Investing #Mining #Gold
0:00 – Intro
0:25 – Fed’s latest hike was “baked in the cake”
3:41 – Rate hike effects moving slowly but surely
8:02 – Fed’s trajectory for 2023 and beyond
12:20 – What really matters for the gold price
17:05 – When will gold stocks start moving?
20:19 – 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.