In his inaugural Gold Videocast for SchiffGold a few weeks ago, Albert K Lu interviewed Adrian Day, CEO of Adrian Day Asset Management. Day said he believes the gold market is “consolidating, bottoming, and turning around.”
The last couple of weeks seem to confirm Day's insight. Since hitting its low the day after the Federal Reserve raised interest rates, the price of gold has risen more than 10%.
A lot was made of the Fed's rate hike in the mainstream media, but Adrian agrees with Peter – he doesn't see a series of interest rate increases in 2016 because it's an election year and the economy simply won't support it. He called a rate-hike pause the new interest rate cut. He went on to say gold is set up for a strong rally. Once it gets going a lot of people will scamper at signs of positive news and jump in.
When you have a decline over four years, it takes time to turn the corner and that's what we're seeing now. Gold is very undervalued right now.”
Video Length: 00:09:34
This is just the first of Albert K Lu's exclusive interviews for SchiffGold. As creator and host of The Power & Market Report, Lu has years of experience analyzing the precious metals market and speaking with industry experts.
Follow along with the full transcript:
