A Year for Accumulation, Jeff Christian October 2019 Part 2
Jeffrey Christian and Sean Brazney
In this video, taped in October 2019, CPM Group Managing Director Jeff Christian offers his forecasts and recommendations for investors seeking to take advantage of the opportunities in precious metals in 2019 and beyond.
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IMPORTANT NOTE: The information presented in these video clips is solely a highlight of the opinion of a third-party and is incomplete. Please visit the website and/or subscribe to the publication for the full and timely opinion of the individual and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
Sean Brazney: Hello, my name is Sean Brazney, Sales Director for Monex Deposit Company. I'm here with Jeffrey Christian, Managing Partner and Founder of CPM Group and the author of our Year for Accumulation Report. Thank you for being with us today Jeffrey.
We're still focusing on gold in relation to the dollar. Since late May and early June, as gold has broken out to the upside and has joined the dollar at multi-year highs and showing somewhat of a positive correlation. But, if we get to the end of QT and we see the dollar stop going up in the fashion that it has, or maybe even have a chance for a pullback, do you think that that is something that could give gold a catalyst to go even higher from where it's at now?
Jeffrey Christian: We're looking for gold and silver prices to rise toward the end of the year and into 2020. One of the reasons why we're thinking that is that we think that the dollar probably gets capped. We've had a situation where the dollar and gold have both been rising over the last several months and that's not uncommon actually where you see, because they are the two big reserve assets of last resort, it's not uncommon when you see people concerned about financial stress and economic trends that they buy both the dollar and the gold. If the dollar stops rising, and even if it just plateaus and doesn't decline, you have removed the major competition to gold and silver as a reserve asset and a portfolio diversifier. So, that's one of the reasons why we think that you'll see stronger investment demand for gold and silver in the fourth quarter, especially starting in the second half of November and also higher prices for gold and silver starting in November and going into the new year.
Sean Brazney: Switching gears a little bit away from gold to platinum. In fact, last month in our Year for Accumulation video, you actually had let us know that you thought you might see a pullback in platinum, which actually took place. Now that it's pulled back again, down to the mid $800's to the mid $870's area, it looks like it is near 10-year lows again and showing another great opportunity to accumulate. Do you see the same thing?
Jeffrey Christian: Absolutely! Our view is that the platinum price may not rise sharply for the next year or so, but at some point over the next several years, we expect platinum prices to rise sharply. Based primarily on fundamentals and the fact that the world's automotive market is not moving as rapidly to electric vehicles, as a lot of people thought they would. I think that you're going to have a situation at some point in the next say five years, where you have very tight platinum supply, because you still have people using a lot of platinum, a lot of auto catalysts, but the supply is continuing to decline or resuming its decline in South Africa. When that happens, I think that platinum price will rise very sharply. So, the pullback that we've seen since August represents a good long... a good opportunity to buy for long-term investors.
Sean Brazney: Jeffrey, again your information and your time is extremely valuable to us. We want to thank you again for that. There's a lot more to talk about in our October Year for Accumulation video in regards to silver and palladium as well. So, give Monex a call today. Talk to one of our account representatives and ask for your free Year for Accumulation Report.