John Feneck, portfolio manager and consultant at Feneck Consulting, shared his thoughts on gold's post-US election price drop, saying it doesn't mean the metal won't thrive once Donald Trump takes office again.
"What happened was you had a risk-on moment ... it wasn't that gold and silver were no longer relevant, it was simply that people were celebrating the Trump victory," he explained to the Investing News Network.
Feneck also gave updates on mining stocks he's watching right now.
On the gold side, he mentioned companies such as US Gold (NASDAQ:USAU), Badlands Resources (TSXV:BLDS,OTC Pink:BDLNF) and Inflection Resources (CSE:AUCU,OTCQB:AUCUF), which also has a copper component.
Aside from that, Feneck discussed "special situations," mentioning Guardian Metal Resources (LSE:GMET,OTCQX:GMTLF) and Angkor Resources (TSXV:ANK,OTCQB:ANKOF). The former is exploring for tungsten, while the latter is focused on gold and copper, but also produces oil, an angle Feneck said should be compelling under Trump.
Overall, he remains bullish not just on gold, but also on gold-focused companies.
"I would just say don't just own gold," Feneck said in closing. "If you own gold and you're watching this, you have to own gold stocks. If you believe in the metal, you have to believe in some of these companies that are finding the metal."
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
