'The standout has got to be the gold price' - Inventa's Craig Parry on metals and the big market drop
(Kitco News) - Metals are standing up relatively well during this steep market draw down, said co-founder and partner of Inventa Capital, Craig Parry.
Parry spoke to Kitco on Thursday after this week's sell off. The S&P is down 19% year to date.
Inventa Capital is a venture capital firm focused on the resource sector. The company was founded five years ago. In 2020 the company said it raised over $100 million for its group of companies. Parry also chairs juniors Skeena Resources and Vizsla Silver.
"Arduous, arduous week," said Parry. "It's full capitulation mode on a lot of names, probably unjustified because you've seen metal prices hang in there relatively well. The standout across all sectors has got to be the gold price. We are back to where we started at the beginning of the year. It's fast emerging that gold remains the safe haven. People are going to come back to this sector in a big way."