He\u2019s explained previously that the gold price is likely to move even higher when the US Federal Reserve starts cutting interest rates, and in his view the central bank\u2019s higher-for-longer strategy is steadily losing steam. <\/p>\n
\u2018At this point, people who believe in the soft landing, people who believe in the tooth fairy \u2014 they simply cannot ignore that the economy is slowing,\u2019 Day said at the Prospectors & Developers Association of Canada (PDAC) convention.<\/p>\n
\u2018Everything you look at, whether it\u2019s new jobs claims, continuing unemployment claims, new home sales, manufacturing \u2014 the list goes on and on and on \u2014 pretty much every indicator you look at is trending downwards. I don\u2019t think people can ignore anymore that we\u2019re heading towards a recession and it\u2019s not going to be too far away.\u2019 <\/p>\n
He also touched on geopolitics, the upcoming US election and central bank buying, saying they will also impact the gold price this year. In particular, he anticipates turmoil and potentially violence leading up to voting day. <\/p>\n
Aside from that, Day shared his thoughts on sentiment in the gold space, saying that the last remaining gold stock investors now seem to be capitulating. \u2018I think this is going to change very, very soon, but more importantly it\u2019s going to change very, very dramatically,\u2019 he said. \u2018But at the moment it seems as though investors are looking for the bad news.\u2019<\/p>\n
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n He\u2019s explained previously that the gold price is likely to move even higher when the US Federal Reserve starts cutting interest rates, and in his view the central bank\u2019s higher-for-longer strategy is steadily losing steam. \u2018At this point, people who believe in the soft landing, people who believe in the tooth fairy \u2014 they simply […]<\/p>\n","protected":false},"author":0,"featured_media":2015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/2014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=2014"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/2014\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/2015"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=2014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=2014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=2014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}