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.
This article was originally published by Investorplace.com. Read the original article here.