VIDEO — Jeb Handwerger: Expect a Second Leg Higher for Gold in 2021

- December 23rd, 2020

“We expect in 2021 to see another leg higher that could even be more powerful than what we saw this past summer,” said Jeb Handwerger of Gold Stock Trades.

The gold price has pulled back since reaching a new all-time high this past summer, but Jeb Handwerger of Gold Stock Trades believes 2021 will bring more upside potential. 

“We saw the first breakout move this summer in gold where we ran to US$2,000 (per ounce), and now the past four months we’ve been in a consolidation and digesting those moves,” he said.

“But we expect in 2021 to see another leg higher that could even be more powerful than what we saw this past summer … really this past summer was just the beginning.”

 

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Speaking about gold’s price history, Handwerger noted that from 1999 to 2011 the yellow metal ran up from about US$250 to almost US$2,000 before dropping again.

“(Then) we had a 10 year base from US$1,900 to about US$1,050, and a 50 percent correction, which is quite normal in a basing period. Now we’re going to start the second powerful leg of that gold rally,” he explained, noting that gold’s drivers include factors such as widespread global money printing.

“Junior miners have been preparing and gold investors have been preparing for a scenario just like this, where you see the government’s only move is to continue to print and stimulate the economy. And that’s going to continue to happen at a record pace in 2021,” he added.

Speaking about his strategy this past year, Handwerger said it’s important to have some flexibility.

“We’ve always been focused on the metals, but what we did when gold and silver went really high in July, and went way above the 200 day moving average — we decided to move to polymetallic and copper and base metals, which were underperforming at the time and did not have that move,” he said.

“Now that’s been getting to catch up — copper’s making a big move, and some of the copper stocks have made a move and gold has come down.”

Watch the interview above for more from Handwerger on what could be next for gold and more.

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.

 

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