Q: What are the technical charts telling about Gold and Precious Metals?
Do you think, the Gold prices and sector pull back/consolidation has run its course and Gold miners are showing signs of support for its way higher ?
If one had a 3.5% weight, would you add at current levels to bring it up to a 5% position in AEM/XGD ?
Thank You
Do you think, the Gold prices and sector pull back/consolidation has run its course and Gold miners are showing signs of support for its way higher ?
If one had a 3.5% weight, would you add at current levels to bring it up to a 5% position in AEM/XGD ?
Thank You
5i Research Answer:
Gold should have good support at $3,900. Silver at $58. Silver seems to be in a tight inventory supply so could potentially break out from here. The sector is acting better after some consolidation. We think the outlook remains quite good for the sector overall. We would be fully comfortable going from 3.5% to 5.0% and would be fine even higher than this. But weightings do need to be based on personal preferances and needs and goals. But we think it is one of the 'easier' sectors to call today.