Recession Not Coming Yet And Gold Not Needed Now, Says BMO
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(Kitco News) - Gold and precious metals miners will have their moment to shine, but investors shouldn’t expect that time to be now, according to Brian Belski, chief investment strategist at BMO.
On the sidelines of the Inside ETFs Canada conference, Belski said that market recession fears are overblown. “We always seem to default to negativity in investing,” he said. “Even though we haven’t had a recession since 2009, doesn’t mean we have to have a recession. We believe the stability of the Canadian stock market and economy and the stability of the U.S. economy and market remain steadfast.”
Looking at gold, Belski said that because of the strength of the U.S. dollar, investors shouldn’t be overly invested in gold.