Brien Lundin: Gold Stocks Due for Takeoff, Get Positioned Ahead of FOMO
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"The key is that you want to be involved in this sector, you want to be positioned in it for when it turns," said Brien Lundin of Gold Newsletter.
Brien Lundin, editor of Gold Newsletter, shared his outlook for gold and gold stocks in 2024.
In his view, the US Federal Reserve will have to start lowering interest rates this year due to vast federal debt.
"Rates will have to fall, the Fed will have to pivot and other central banks will follow suit. When that happens, gold should do very well," Lundin said, adding that it's key for investors to be ready for this move ahead of time.
When asked about his strategy, Lundin said he's taking some profits on uranium stocks and repositioning in gold and silver juniors. "The key is that you want to be involved in this sector, you want to be positioned in it for when it turns. And you can just have confidence that it's probably going to turn sometime this year," he explained.
Lundin also reminded market participants that gold stocks are likely to move quickly when they break out.
"People ask me when the last time was that I saw the junior mining share market this depressed. And I tell them in the 2000 timeframe it was as well," he told the Investing News Network. "But back then, gold was selling at US$252 an ounce; now it's near an all-time high. Back then, gold had to almost double before the mining stocks started to reawaken. Now it won't take that long, it won't take a couple years. It will take weeks or even days, and you'll get whiplash seeing how quickly FOMO kicks in and these stocks will take off."
Watch the interview for more from Lundin on gold and gold stocks. You can also click here for our full playlist from this year's Prospectors & Developers Association of Canada convention.
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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.
