Gold: Why I Am Buying The Dip

Victor Dergunov
Investing Group Leader
(8min)

Summary

  • Gold surged to $3,500, surpassing expectations; the year-end target was adjusted to $3,800-4,000 due to strong demand from market uncertainty and dollar weakness.
  • Despite near-term volatility, the long-term outlook for gold remains positive, with potential buying opportunities around $3,200 and $3,000 support levels.
  • Top gold miners like Newmont, Barrick, Agnico Eagle, and Kinross are undervalued, with low P/E ratios and potential for significant gains.
  • Fed's balance sheet expansion and economic uncertainty could drive gold prices higher, making this a favorable period for gold investments.
  • This idea was discussed in more depth with members of my private investing community, The Financial Prophet. Learn More »
Stacking gold bars with USA flag.

manything/iStock via Getty Images

I discussed increasing gold exposure in November, as gold had a constructive pullback to the $2,600-2,550 support zone. Since then, gold has been on fire, surging by about 40% to a recent ATH of around $3,500. Many market participants didn't expect gold to surge all the way up

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This article was written by

Victor Dergunov
51.67K Followers

Hi, I’m Victor Dergunov, MBA, and I’ve been an active investor for over 20 years. My passion for investing started early, and I’ve spent two decades honing strategies that consistently deliver results. Whether it's tech giants like Apple and Tesla or opportunities in commodities and crypto, I provide diversified insights to help you succeed. Join me, and let’s take your investing to the next level.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of NEM, GOLD, AEM, HL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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