(Kitco News) - Copper and gold are perfectly paired while silver's thesis is muddied, said Robert Sinn, founder of Goldfinger Capital.
In mid-January, Sinn spoke to Kitco Mining at the Metals Investor Forum Vancouver.
Sinn said metals should get a lift in 2024.
"China is going to do a lot of stimulus to help their economy along, which is really struggling right now, and I think the [Federal Reserve] is about to pivot," said Sinn.
Sinn said that copper is needed for economic progress and gold is a timeless store of value with no counterparty risk.
"I think gold and copper are the perfect combos. Those are my two best ideas for the year. It's kind of a sweet spot...since copper often comes with gold," said Sinn. "You are able to play both sides."
He noted many major gold miners are acquiring copper projects. He said that Freeport McMoran, one of the world's top copper producers, is the "simplest way" to play both.
Junior resource companies had a tough 2023. Sinn said most are in the dumps right now, and the sector will need a "little bit more time to play out."
Sinn said there are thousands of companies in the junior space, "...so the challenge is to filter through all those opportunities to either lose money or make money."
On silver, Sinn said the story is muddled. There is the solar build-out, which should favor the metal, but silver is also a monetary metal.
"I don't think that's as big of a driver as a lot of people think if I just go off the chart technicals. The gold chart is much more positive than the silver chart, and for silver to really break out like gold, I think we'd have to get above $27 an ounce, but central banks don't buy silver."