VIDEO - Nick Santiago: Top Trade for 2021, Where Gold is Headed This Year

After an eventful 2020, Nick Santiago of InTheMoneyStocks is gearing up for a dramatic 2021.

Speaking to the Investing News Network, he explained that various factors from 2020 are still influencing the market, and noted that historically years ending in one are volatile.

“The ‘one’ year of a decade is always, always a very volatile year. You can just go back and look at 2011, you could go back and look at 2001, and you can see how volatile of a year it was,” he said.

When asked about where the gold price could be headed, Santiago said he expects it to go lower in 2021 before rising significantly in the years to come.

“I love what gold is doing — I don’t want to see gold break out right now because I think gold is going to make a big, big surge in the next few years,” he said.

“Right now we’re still doing a lot of backing and filling because we just surpassed that all-time high in August where we took out the 2011 top. Any time you go up in a parabolic way you’re going to come down, and you’re going to stage some type of correction.”

He expects to see gold in the US$1,700 per ounce range this year, and said that in his opinion silver will be the best way to play precious metals moving forward.

Aside from gold and silver, Santiago mentioned that he was able to make money on copper last year, although he’s out of that metal right now. He also spoke about the US dollar, which he believes is bottoming right now, and bitcoin, which he advised market participants to cash in on after its major run.

Watch the video above for more from Santiago on gold, as well as where else he’s focusing this year.

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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.