 | Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here! |
(Kitco News) - The coming quarter should give the precious metal sector a lift, said Soar Financial CEO Kai Hoffmann.
Hoffmann spoke to Kitco in April as gold was nearing $2,000 an ounce, but the GDX, an index of gold companies, was well off its 52-week highs.
"It's very, very surprising because...the miners and juniors have not caught up," said Hoffmann. "Gold is doing fine but it doesn't feel like investors are participating. On the junior side I'd almost say that we don't trust the cooking."
Hoffmann said the sector will benefit from financials due next month, with the precious metal miners benefiting from strong gold prices for most of the quarter.
"The miners should have some really decent Q1 numbers coming out fairly soon. With oil prices dropping, energy costs are down, and all-in sustaining costs should be quite positive, especially the cost of goods sold, meaning the achieved ounces," said Hoffmann.
Hoffmann is organizing Deutsche Goldmesse, a two-day conference in Frankfurt, Germany. The event will feature headliners like John Reade from the World Gold Council and Egon Van Greyerz from Matterhorn Asset Management, as well as 35 participating companies. Register at https://deutschegoldmesse.online/.
|
| 'The riskiest assets on the planet' - Rick Rule on when to bet on gold stocks |
