The war in the Middle East has pushed the gold price up, but it’s not the only factor that’s causing the yellow metal to rise. Brien Lundin, editor of Gold Newsletter, said it’s also responding to turmoil in the Treasuries space.
‘All the old relationships are breaking right now, which kind of signals a turning point in the market,’ he explained. ‘The one common characteristic is that gold is finding excuses to rise. Even when Treasury yields go up, even when they go down; even when the dollar index goes up, even when it goes down. So the correlations are different, they’re breaking.’
Lundin also discussed his positive outlook on uranium and shared where he sees the most opportunity right now.
‘The place to be right now is those companies that are on the verge of production or being acquired by those companies that suddenly get stronger because they get appreciation of their market value,’ he said.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
