Top Stories This Week: Gold Price Gains Again, Expert Outlines Key Support Level

TL;DR

The gold price increased during the week, reaching a high of around 1965 per ounce, and David Earfully suggests that gold stocks may have reached a bottom, making them a potentially attractive investment. Additionally, oil and gas investors may find buying opportunities if tensions de-escalate between Russia and Ukraine.

Transcript

welcome back to our weekly update i'm charlotte macleod with the investing news network and i'm here to give you a quick look at our top stories for the week the gold price was on the move this week rising from a low point of about 1915 per ounce on tuesday to a high of around 1965 on thursday it was changing and slightly lower just below 1960 when... Read More

Key Insights

• 🤘 The gold price experienced fluctuations throughout the week but showed signs of support at the 1900 or 1920 level.
• 🏅 David Earfully believes that gold stocks may have reached a bottom and their strength is improving relative to the gold price.
• 🏅 Acquiring later stage junior gold developers at the feasibility or financing stage may be a profitable strategy, given the potential accessibility of financing and favorable margins.
• 🫢 Oil and gas stocks have gained attention due to the Russia-Ukraine conflict, but Adam Rosenswag believes the world was already heading towards an energy crisis.
• 🙃 A de-escalation of tensions could lead to a sell-off in oil and gas stocks, providing an opportunity for investors.
• 🫢 High-quality US and Canadian oil and gas stocks are worth considering for investment.
• 🍃 David Earfully highlights the risk of stocks being acquired too soon, potentially leaving profits on the table.

Questions & Answers

Q: What is the outlook for the gold price?

David Earfully suggests that despite potential tests at 1850, there is support at 1900 or 1920 and gold stocks may have reached a bottom, showing better strength relative to the precious metals price.

Q: Where is David Earfully currently focusing his investments in the gold sector?

David is acquiring later stage junior gold developers at the feasibility stage or close to financing. He believes these companies have good margins and will benefit from a more accessible financing environment.

Q: What is David Earfully's concern regarding his investment strategy in gold stocks?

David worries that the stocks he has accumulated may be acquired too soon, citing an example where Orca Gold was acquired by Perseus Mining at an undervalued price, leaving potential profits on the table.

Q: How has the conflict between Russia and Ukraine impacted oil and gas stocks?

According to Adam Rosenswag, the conflict has brought attention to oil and gas stocks, but he believes that the world was already heading towards an energy crisis. A de-escalation of tensions could result in a sell-off, which he sees as a buying opportunity.

Summary & Key Takeaways

• The gold price rose from 1915 to around 1965 per ounce during the week, with support at 1900 or 1920 and a possibility of testing 1850.

• David Earfully advises focusing on later stage junior gold developers at the feasibility or financing phase, as they have experienced sell-offs and could benefit from a more accessible financing environment.

• Tensions between Russia and Ukraine have put oil and gas stocks in the spotlight, and Adam Rosenswag suggests that a de-escalation could lead to a sell-off, presenting a buying opportunity for high-quality US and Canadian stocks.