David Morgan, publisher of the Morgan Report, shares what he thinks could push gold and silver prices higher in 2019.
2018 brought declines for the gold price, but this year David Morgan, publisher of the Morgan Report, predicts a decent year for the yellow metal.
“I think the major shift has finally taken place. Gold is inversely correlated to the stock market, [and] I think the stock market has peaked at least for awhile,” he said at the recent Vancouver Resource Investment Conference.
“I could be wrong, but if that’s true you’ll see more and more money moving out of equities and into gold. I think that will be a trend starting this year.”
Even so, Morgan cautioned investors not to get too excited just yet. “The cycle’s starting over and gold is out of favor and nobody cares, and very few people are buying and that type of thing,” he explained. “I think that’s really where we are right now, at least psychologically.”
In his opinion, that means “this year will be a good one for gold, but not a great year for gold.”
Watch the interview above for more insight from Morgan, including his thoughts on the recent deal between Newmont Mining (NYSE:NEM) and Goldcorp (TSX:G,NYSE:GG). You can also click here to view our full playlist from the conference on YouTube.
Don’t forget to follow us @INN_Resource for real-time updates!
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.