Gold miners pullback offers entry point
The guest argued that the recent pullback in gold miners represents a buying opportunity as 'weak hands' and short-term tourists have been flushed out of the asset class.
The argument
The guest noted that gold miners pulled back significantly but remain structurally under-owned relative to history. He stated his firm has begun buying back gold miner and silver ETFs after selling them earlier in the year.
The thesis, stress-tested
✓ What validates it
- ✓Stabilization of gold miner ETFs above key moving averages like the 100-day moving average
▸ Risks discussed
- ▸Gold miners have not reached the extreme levels of bearishness seen in other historical capitulations
Hear it yourself
"Too many tourists came in. If you buy those the hundred day moving average in that new bull market, and you're looking at an asset class that's still way under owned relative to history Yeah."
00:00 / 00:12
AFFILIATE LINK · ZORTIX MAY EARN A COMMISSION · NEVER A RECOMMENDATION TO TRADE