Jeff Clark: Bottom is in for Juniors After Worst Year for Sentiment
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"We're going to see new sustainable all-time highs in gold — that's the call I'm willing to make in 2024," said Jeff Clark of TheGoldAdvisor.com and Paydirt Prospector.
Jeff Clark of TheGoldAdvisor.com and Paydirt Prospector shared his outlook for the junior sector in 2024, saying that a turnaround could be coming after what was perhaps the worst year ever in terms of sentiment.
"We're at the bottom of a cycle now in my opinion. And so I think things are going to turn," he told the Investing News Network on the sidelines of the Vancouver Resource Investment Conference (VRIC).
Looking at what could spark a turnaround, Clark said gold will need to make a decisive and sustainable price breakthrough. By that he means the yellow metal needs to make it at least to the US$2,100 to US$2,200 per ounce range.
"I do think it's going to break through and go to US$2,100, US$2,200, US$2,300 — somewhere in that range, maybe US$2,500. We're going to see new sustainable all-time highs in gold — that's the call I'm willing to make in 2024," he said.
Clark sees forthcoming interest rate cuts from the US Federal Reserve as a short-term catalyst for gold.
"Gold likes easing, and that's the cycle that we're going into as far as the Fed is concerned. So in the short term that's our catalyst," he explained during the conversation. "I think that's going to have implications, and I think it could be exciting. And of course, that's just a short-term thing — who knows what else could come on the heels of that."
Gold stocks also fare well in during easing periods, and Clark mentioned Emperor Metals (CSE:AUOZ,OTCQB:EMAUF) as a gold-focused pick. Outside of gold, he pointed to Argentina Lithium & Energy (TSXV:LIT,OTCQX:LILIF).
Watch the interview above for from Clark on gold and the exploration space. You can also click here for the Investing News Network's full VRIC playlist on YouTube.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Argentina Lithium & Energy is a client of the Investing News Network. This article is not paid-for content.
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.
