Gold and silver miners are steeply oversold
The guest argued that high-quality gold and silver producers are trading at steep discounts of 40% to 50% despite a secular bull market in precious metals.
The argument
The guest noted that the US cannot afford rate hikes or costly wars, meaning the macro drivers of the recent sell-off are temporary. He argued that institutional money is staying in explorers and producers, making this an attractive accumulation phase for liquid, high-quality operators.
The thesis, stress-tested
✓ What validates it
- ✓Gold breaking out and sustaining levels above its previous highs
- ✓Agnico Eagle or Newmont reporting strong quarterly earnings and margin expansion
▸ Risks discussed
- ▸Short-term price volatility and potential for further near-term sell-offs
- ▸Geopolitical escalations causing temporary panic selling by retail investors
Hear it yourself
"You can also take the view that the miners today, producers, some of the best quality ones are down 40 to 50%. If you looked at relative strength, charts, all sorts of technical indicators, they're just as oversold as you can get."
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