Top Stories This Week: Gold Optimism Strong, How Bullish is Too Bullish?

- October 23rd, 2020

Catch up and get informed with this week’s content highlights from Charlotte McLeod, our editorial director.

Gold is holding steady at around US$1,900 per ounce, but what is its long-term potential?

I spoke this week with Nick Barisheff of BMG Group, who has a US$10,000 price target for gold.

That may sound outlandish, but Nick explained that the idea is rooted in a correlation between the gold price and US debt. Another component of his argument centers on pension funds, which he thinks could have a massive impact on gold if they begin to allocate even a small amount of their holdings to gold.

“Basically if you look over a reasonable timeframe, the price of gold and the total amount of US debt is correlated, so they would go up together” — Nick Barisheff, BMG Group

I also talked this week with Brien Lundin of Gold Newsletter and the New Orleans Investment Conference. His conference took place about a week ago, and he said that one of his key takeaways was that for the first time in quite awhile there’s broad agreement that the future looks bullish for gold.

“For the first time in a very long time there’s broad agreement on a bullish picture for gold — but a lot of really smart people with an array of evidence to back that up” — Brien Lundin, Gold Newsletter

Resource-focused experts often prefer a contrarian approach to investing, and Brien said it does make him feel somewhat nervous to see everyone agree. However, at this point he believes the fact that there’s a consensus shouldn’t be too concerning — instead it indicates that the gold thesis is strong.

“It’s a little concerning for contrarians, but there’s so much evidence and so much aligned in favor of the metals that really the argument’s almost indisputable at this point” — Brien Lundin, Gold Newsletter

Because we had conferences in mind, this week we asked our Twitter followers what they think about the online shift that most, if not all, events have had to make this year. While many respondents said they want to get back to in-person events, a small majority indicated that in the future they’d like to see a mix of online and in-person event options.

We’ll be asking another question on Twitter next week, so make sure to follow us @INN_Resource or follow me @Charlotte_McL to share your thoughts.

Instead of cannabis, this week we’ve got an update on the psychedelics market. INN’s Bryan Mc Govern explored the impact of Compass Pathways’ (NASDAQ:CMPS) recent NASDAQ listing. Diverse experts agree that the move from Compass represents a turning point for the still very new industry.

“It’s shown to the world what insiders have known for a long time — that this vision of bringing psychedelic medicine to the world isn’t a pipe dream, it’s very real and it’s happening now” — Michael Hoyos, the Conscious Fund

With a NASDAQ listing, the company is available to a much wider audience, and has potentially paved the path for other psychedelics companies to list there — in fact, Mind Medicine (NEO:MMED,OTCQB:MMEDF), another up-and-coming firm, has already confirmed its intention to pursue its own listing on the American exchange.

Want more YouTube content? Check out our YouTube playlist At Home With INN, which features interviews with experts in the resource space. If there’s someone you’d like to see us interview, please send an email to cmcleod@investingnews.com.

And 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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