Andy Schectman, president of Miles Franklin, shares his thoughts on the gold market and other precious metals in this interview.
The gold price stalled in the second quarter of the year, but is up almost 8 percent since January. Many market participants continue to be optimistic about how high the yellow metal can go.
At this year’s Sprott Natural Resource Symposium, the Investing News Network had the chance to catch up with Andy Schectman, president of Miles Franklin, a company that specializes in precious metals bullion products.
Like many, he has high hopes for gold, and believes the market is setting up for what looks like a major uptake. Schectman believes the market could be impacted by factors such as debt, instability caused by US President Donald Trump and geopolitical risks.
That said, he sees concerns about the US Federal Reserve hiking interest rates as a non-event. “Interest rates don’t have any chance of rising again substantially,” he commented.
Schectman, who has been accumulating gold every two weeks for the past 28 years, also discussed platinum and why he is less excited about this precious metal than he is about gold.
Finally, he shared what companies he is following right now and what his favorite mining stocks are.
Listen to the interview above for more of Schectman’s thoughts on gold and other precious metals. The transcript for this interview will be added shortly.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
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.