Brien Lundin of Gold Newsletter spoke about the gold market, as well as the upcoming New Orleans Investment Conference.
Brien Lundin: Poor Gold Sentiment Has Created "Epitome of a Buying Opportunity"youtu.be
Gold's price slump has left investors wary, but Gold Newsletter Editor Brien Lundin sees an opportunity.
Speaking to the Investing News Network, he said sentiment surrounding the yellow metal is "about as washed out as (he's) ever seen," including compared to the double-bottom bear market seen in 1999 and 2000.
However, Lundin pointed out, that bottom was the start of an impressive 11 year bull run.
"Today we've got that same degree of undervaluation, but we have much, much more powerful monetary fundamentals working in our favor," he explained. "So I think it is the absolute epitome of a buying opportunity."
When it comes to gold stocks, Lundin suggested that investors consider companies with established resources and economic parameters, as many are now trading at one-third to one-quarter of their 52 week highs.
"If we just get a market that normalizes, then you can get multi-bagger potential from these very solid, relatively conservative companies that have real assets and much less downside," he said during the interview. "If you can get the potential for a three to four times gain from a company that offers relatively little downside at these price levels, it's the kind of opportunity that doesn't come very often, and is one that I think everybody needs to look at hard right now."
Lundin is also the host of the New Orleans Investment Conference, which runs this year from October 12 to 15. Given the current market circumstances, he believes it's the ideal time for investors to gather and hear from experts.
"What I see happening is that in the very near future (the US Federal Reserve is) going to be forced to turn back from that rate hike campaign due to the rising costs of servicing the debt, which are already spiraling toward close to US$1 trillion a year," he said. "I think that's going to be a big barrier for the Fed, and I think a lot of this is going to come to a head really right about the time of the New Orleans conference."
Watch the interview above for more from Lundin, and click here to register for the New Orleans Investment Conference.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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