Gareth Soloway: Gold Buying Opportunity as Weak Hands Flushed Out

This interview was filmed on June 22, 2021.

The gold price has been on the decline since last week’s US Federal Reserve meeting, dropping below the US$1,800 per ounce mark and staying there.

Gareth Soloway, chief market strategist at InTheMoneyStocks.com, said US 10 Year Treasury yield activity had an impact on the yellow metal. But he remains bullish on gold long term, with a US$2,860 target for the next two to three years.

“I’m positioning for higher gold prices down the line. I look at this dip as a buying opportunity. I think it was kind of a flush out for the weaker hands for gold,” he said.

#Investing #Gold #Bitcoin

0:00 – Intro
0:21 – Latest Fed meeting and gold’s reaction
3:11 – Gold price targets; bear case potential
7:17 – Is an S&P correction in the cards?
9:34 – How Gareth is playing the S&P situation
12:53 – Market impact of meme stocks
16:06 – Gareth’s bitcoin price target for 2021
19:09 – Bitcoin, China and final advice
21:20 – Outro

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