Connect with us

Hi, what are you looking for?

FutureMoneyFate.comFutureMoneyFate.com

Investing News

Adrian Day: Gold Stock Investors Capitulating, Dramatic Change Coming Soon

He’s explained previously that the gold price is likely to move even higher when the US Federal Reserve starts cutting interest rates, and in his view the central bank’s higher-for-longer strategy is steadily losing steam.

‘At this point, people who believe in the soft landing, people who believe in the tooth fairy — they simply cannot ignore that the economy is slowing,’ Day said at the Prospectors & Developers Association of Canada (PDAC) convention.

‘Everything you look at, whether it’s new jobs claims, continuing unemployment claims, new home sales, manufacturing — the list goes on and on and on — pretty much every indicator you look at is trending downwards. I don’t think people can ignore anymore that we’re heading towards a recession and it’s not going to be too far away.’

He also touched on geopolitics, the upcoming US election and central bank buying, saying they will also impact the gold price this year. In particular, he anticipates turmoil and potentially violence leading up to voting day.

Aside from that, Day shared his thoughts on sentiment in the gold space, saying that the last remaining gold stock investors now seem to be capitulating. ‘I think this is going to change very, very soon, but more importantly it’s going to change very, very dramatically,’ he said. ‘But at the moment it seems as though investors are looking for the bad news.’

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

You May Also Like

Stock News

In this episode of StockCharts TV‘s The Final Bar, Tony Dwyer of Canaccord Genuity talks Fed policy, corporate bond spreads, and why the level of interest...

Stock News

SPX Monitoring Purposes: Long SPX 8/9/23 at 4467.71. Long SPX on 2/6/23 at 4110.98: Sold 6/16/23 at 4409.59 = gain of 7.26%. Gain since...

World News

The vote in Ohio this week significantly set back Republican efforts to restrict abortion rights, no question. Voters strongly rejected Issue 1, which would...

Investing News

Lithium demand is expected to increase significantly in the coming decades as the world turns to greener sources of energy to meet its net-zero...