Connect with us

Hi, what are you looking for?

Trading Tips

Nick Hodge: Gold to Remain Bullish, Watch Silver, Copper and Uranium Too

Nick Hodge, publisher at Digest Publishing, shared his latest thoughts on gold, silver, copper and uranium.

Speaking first about the yellow metal, he said he sees it maintaining its bullish edge. ‘Gold is starting to check technical milestones. It’s checking technical boxes that tell broader, more generalist investors that gold is emerging from a bear market, and it starts to beget or attract capital simply because it’s going up,’ Hodge explained.

While silver is currently lagging behind gold, it’s starting to move based on a shift in perspective.

‘What’s happened is that silver is being treated now as more of a precious metal than an industrial metal,’ Hodge explained during the interview. ‘Before it was trading sideways to down with copper, and now that gold has caught a bid, silver is doing what it’s typically done in the past — it’s being treated more as a precious metal.’

Looking over to copper, he said while its supply/demand fundamentals have been strong for some time, prices are now moving because a recession hasn’t materialized in the US. Meanwhile, other countries are coming out of recessions.

One way Hodge is playing copper is with the iShares Copper and Metals Mining ETF (NASDAQ:ICOP).

In closing, he touched on uranium, saying he remains bullish as the commodity consolidates after a quick run.

‘Commodities move in cycles … and I think that it’s going to be a cascading or a wave effect,’ he said. ‘We talked about how investors are bored with uranium right now because they’re more intrigued with gold and copper. Well you’re going to see that copper will do its thing for a little bit and then it’ll spill over into silver and platinum-group metals and then back into uranium. I think that with higher inflation for longer and then with relatively stagnant growth it’s a good environment for commodities across the board to move higher. And they’re just going to do so in independent cycles.’

Watch the interview above for more of Hodge’s thoughts on gold, silver, copper and uranium.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Secrets

    What is the marginal rate of substitution and its formula? Key Takeaways: Trade-offs and Satisfaction: MRS shows the trade-offs consumers are willing to make...

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...