Gold’s fundamentals remain solid, with central bank purchases and de-dollarization being two key trends driving the yellow metal’s rise going forward, according to Peter Grandich of Peter Grandich & Co. .
Granditch has previously described central bank purchases as a “major bullish factor” for gold, saying that while gold remains important, as the world globalizes and shifts into the zone, de-dollarization will be a close second. He said it was in stages.
“This is not idle chatter. This is not a rumor, it is a fact,” he said. “Gold is developing and is currently moving at a faster pace than many expected, and I suspect it will continue to do so. This is also very long-term bullish for gold.”
Uranium and copper are two other commodities that Grandich is optimistic about, and he shared his thoughts on those markets as well. Speaking about uranium, he said the underlying arguments for the commodity have never been better. But he reminded investors that even if prices were trending higher, a more cautious rally would be preferable.
“Slowly but steadily the turtles win the race. So far everything seems to be going well,” Grandich said.
As for copper, he said recession fears and falling oil prices are putting pressure on the sector. Granditch noted that the transition to green energy is likely to happen more slowly than some expected, but the electrification story still underpins a bright future for red metal. In other words, fossil fuels should not be discounted yet.
Grandich acknowledged that Junior continues to face many challenges, including marketing constraints and competition from other, more trendy industries like cryptocurrencies.
“I think metals need to hit new highs, gold hit new highs, be there and be in the regular economic news to get some people back,” he said, adding that Jr. He added that he was surprised that the was still not working. “If I had been doing this interview six months ago, I would have said the junior market couldn’t have gone down, but it’s gone down…[i.e.]did they ring the bell or I didn’t hear it, and That’s how it is now.” Or it’s more compelling than it’s ever been in 40 years. I hope it’s the latter. ”
For more on Grandich’s thoughts on gold, uranium, copper, and the market as a whole, check out the interview above.
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Securities Disclosure: I, Charlotte McLeod, have no direct investment rights in any of the companies mentioned in this article.
Editorial disclosure: Investing News Network does not guarantee the accuracy or completeness of information reported in interviews. The opinions expressed in these interviews do not reflect those of Investing News Network and do not constitute investment advice. Readers are encouraged to conduct their own due diligence.
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