Byron King, editor of Rickards’ Gold Speculator, encourages investors to take advantage of tax-loss selling in the coming months. He also shares his thoughts on the copper and gold markets.
With less than two months left in 2018, are there still opportunities for resource investors to make money? According to Byron King, editor of Rickards’ Gold Speculator, the answer is “yes.”
“What happens in November until about the first week or so of December is the mining sector doesn’t get cheap — it gets dirt cheap, super duper on sale. So this is the time … to be looking at quality mining shares,” he said.
King added that this drop in share prices late in the year is followed closely by the January effect, saying, “this January effect, this lifting effect … just that alone might give you a 10, 15 percent gain within about two, three months.”
In terms of what commodities he’s looking at right now, King said that copper is his top pick due to its favorable supply/demand dynamics.
“There is a looming deficit of copper as certain mines across the world are throttling back or closing down because they’ve exhausted their resource, and there’s just not enough new production coming on. So we have a supply issue, [and] we have very strong demand for a fabulous product,” he said.
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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.