from King World News
With the gold market trading near the old all-time high of $1,923, one pro says BTFD because the “Fed Put” now applies to the gold market.
Gold’s Breather Creates Buying Opportunity
October 5 (King World News) – Paul Wong, Senior Portfolio Manager at Sprott: Markets experienced the first post-COVID meaningful correction in September as investment fund exposures were reduced, resulting in a contraction in market depth and liquidity. Despite September’s profit-taking, gold bullion posted its eighth straight quarterly gain. We see this as a buying opportunity for precious metals investors. My colleague John Hathaway, Senior Portfolio Manager, recommends: “Avoid getting caught up in short-term timing decisions; gold pullbacks should be bought.”