Now, I’m not a gold guy. But lately, we’ve noticed many similarities between today’s price action and that of 2008.
Today, gold is seen as a safe-haven asset. But for a large part of the 2008 crash, gold plunged along with stocks – until the selloff’s finale.
The selloff got intense. The Fed started to capitulate. And that’s when gold finally caught a bid and started acting like a safe-haven asset.
The same situation is forming right now. And that’s got us surprisingly bullish on gold stocks.
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.