Ahead of the New Orleans Investment Conference, which is scheduled to run from November 1 to 4, Brien Lundin, editor of Gold Newsletter, discussed sentiment in the gold sector and factors driving the precious metal.
Speaking about the ongoing Israel-Hamas war, he said that during this type of turbulence gold tends to experience a brief price spike that then subsides. However, it’s possible that this conflict might have a longer-lasting effect on the metal.
“In this instance it may prove to be an exception because geopolitical conflicts and uncertainty and volatility could lead to a change in (US Federal Reserve) policy,” Lundin told the Investing News Network. “And as we know, Fed policy drives all the markets these days — so it could have a more lasting fundamental effect if it forces the Fed to either pause or pivot.”
For that reason and others he thinks resource stocks may be approaching a turnaround.
“I think this is really a crucial point in the mining and metals markets,” Lundin explained during the conversation. “I think it’s a generational opportunity — I have not seen an opportunity like this since 1999 and 2000.”
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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.
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