Gold, a buy?
Hi gents, Appreciate your views that gold will consolidate around these levels - do you think then, this is an opportunity to buy? And if so, would you buy GOLD ETF or GDX to gain exposure? Cheers for all!
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Answer
Hi Josh,
We believe this is an opportunity to accumulate exposure to gold, whether through gold ETFs, such as the GDX, or individual gold stocks. We are watching Newmont (NEM) closely for our Active Growth Portfolio after its+15% correction, our ideal buy area is ~$125, or 3-4% below Wednesdays panic sell-off but we’re conscious that strong bull markets often don’t provide “ideal” entry hence we may look to buy in a 2-step accumulation manner in case we don’t see another wave of washout selling of the crowded longs.
- We are bullish towards the GDX ETF into 2026, but it looks likely to be a volatile few weeks.
