Perhaps not a blowout but really sweet - Byron King on upcoming earnings from the gold miners
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Published 2024-07-18
On Tuesday King spoke to Kitco Mining.
When King was interviewed, gold prices were up about 20% year to date, while the miners, as measured by the GDX, were up 25%. Miners are expected to out-perform the metal by a lot but so far have been stagnant. King said the gold miners should shine in Q2 when they report earnings.
"I think we're going to see some really sweet—perhaps not a blowout—earnings," said King. "That will be a wakeup call to Wall Street.
King described Wall Street as being "disdainful" of the metal.
"Wall Street is very, very underinvested in mines and minerals. If just a little bit of the froth on the technology side drifted over into the mines and minerals, we would see an explosion upward."
King also talked about a potential Trump win and what could be expected to change for metals and miners.
0:00 - Resource sector and Trump presidency
2:16 - Do critical minerals looks less appealing if Trump is president?
4:55 - Trump policies could be inflationary
7:18 - Why gold equities under-performing metal price
11:08 - Bull case for copper
15:12 - Most unloved part of the resource sector
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