| Dear Reader, Gold’s latest ‘buy signal’ just appeared. And it could spell a HUGE opportunity for gold stocks. The Fed has finally reversed course…announcing its intention to make three interest rate cuts in 2024. Gold tends to do well in this scenario. Indeed, it’s now on track to break through US$2,200 following the announcement. But there might be a bigger beneficiary of the Fed’s recent move: Gold mining stocks. As John Hathaway, senior portfolio manager of Sprott Asset Management, observes: ‘Every Fed pivot has been followed by outsized gains in gold mining equities.’ This includes ASX gold stocks. For example, during the COVID rate cuts in March 2020, outlier stocks like Tesoro Gold Ltd [ASX:TSO] and Surefire Resources NL [ASX:SRN] gained 2,842% and 3,987% respectively. As I write this, gold stocks haven’t rocketed up yet. They’re still down even as spot gold continues to rise. That hands you a golden opportunity to make your move... Act fast…and you should still catch the anticipated uptrend. No idea which stocks to buy? Read up on my ideas here. Cheers, Brian Chu,
Editor, Australian Gold Report | 