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| Name | Equities have divorced from the gold price - SCP Resource's Peter Grosskopf |
| Video Uploader | Video From Kitco Mining |
| Upload Date | This Video Uploaded At 03-08-2023 04:00:12 |
| Video Discription | Gold can be best understood as a 'reverse thermometer' for investors' confidence, said Peter Grosskopf, CEO of SCP Resource Finance. Kitco Mining spoke to Williams in mid-July at the Rule Symposium Natural Resource Investing 2023 show in Boca Raton, Florida. Grosskopf, who was previously at Sprott, moved to SCP, which has a broker-deal focus. Grosskopf said there has been a decline in financing options for junior resource companies, and financial service firms have exited the sector. "That's not really the right way to handle it," said Grosskopf. "You need to be there in the dark days as well." The gold sector has been performing poorly in 2023 compared to the rest of the market. As of August 1, 2023, the VanEck Gold Miners ETF is mostly flat while the S&P is up 18% and the NASDAQ is up 40%. Investors are mostly confident, said Grosskopf. Investors believe that the Federal Reserve will successfully engineer a soft landing. "People don't feel compelled to own gold right now," said Grosskopf. He said when markets become unsettled again, gold will see an upswing. Tailwinds for precious metals are government debt levels and purchasing power declines due to inflation. "Gold is kind of a reverse thermometer for people's confidence," noted Grosskopf. "The gold price itself is actually quite healthy and probably due for a rebound. I think it moves through its old highs anytime in the next year." He said the prices of juniors have plummeted. "The equities have divorced quite noticeably from the gold price and with the pullback that we've seen especially in the juniors...they're trading a deeply discounted value, so I do think a good time to enter is now." Kitco Mining’s coverage of the Rule Symposium Natural Resource Investing 2023 was sponsored by G Mining Ventures. 0:20 - Focus of SCP Resource Finance 0:30 - What's a broker-dealer business? 1:40 - Decline in available financing for junior resource stocks 2:13 - What's weighing on gold sector? 2:53 - How does gold turn around? __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us Twitter - https://twitter.com/KitcoMining Instagram - https://www.instagram.com/kitcomining LinkedIn - https://www.linkedin.com/company/kitco-mining Facebook - https://www.facebook.com/KitcoMining Connect with the Kitco Mining anchors Michael McCrae - https://twitter.com/michaelmccrae Paul Harris - https://twitter.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc. [Bmfw6YBE58M] |
| Category | News & Politics |
| Tags | Mining | Gold | Investing | Junior Resource Companies | Exploration Companies |
