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Adrian Day of Adrian Day Asset Management discusses gold’s post-US election price activity, saying that although it came back quickly from its initial pullback, he wouldn’t be surprised to see a second leg down.
If that happens, the yellow metal could sink as low as US$2,500 per ounce.
“But I would say to anyone — certainly if they’re not invested in gold — don’t wait for that. The key is that the reasons to buy gold have not changed, and we still need gold for a lot of reasons,” he said.
❓ Is a pullback to US$2,500 in the cards for gold? Tell us in the comments!
This interview was filmed on November 22, 2024.
#Investing #Mining #Gold
0:00 – Intro
0:39 – Gold’s post-election pullback
3:55 – Reasons to buy gold remain
7:30 – What sectors benefit under Trump?
10:06 – Fed’s path moving forward
14:06 – Fed “petrified” of deflation
18:42 – Health of the jobs market
21:03 – Gold miners’ performance
25:13 – Possible pullback to US$2,500
27:01 – Outro
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