Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Both of these commodities have come off their recent highs. Do you believe this a stepping down move or more of a breather before another surge upwards? Is the Mkt waiting for the interest rate cuts or is the geo-political status in USA, Gaza, Ukraine causing greater impact? Thx Glenn
Hi Glenn,
We remain bullish precious metals and especially gold. We talked about the sector in Thursdays Morning Report, believing that looming rate cuts, especially by the Fed, will be the main driver of precious metals over the coming 6-12 months. Geo-political issues have exerted very little influence on the sector outside of a the occasional 24-48 hour spike. A quick summary of our view is:
NB we added the silver chart as we’ve previously focused on gold, ultimately, we see silver rallying towards $US35/oz and like the risk/reward below $US28.
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