Fed has ‘punished' the gold sector and Musk is ‘wrong' on copper - Kai Hoffmann
“What's the famous saying, ‘Don't fight the Fed?’ We tried to fight the Fed, we tried to be smarter than the market, and we're being punished for it right now,” Hoffmann said. “It hasn't been positive overall.”
Hoffmann said that inflation is still high, and appears sticky. “I don't see it going away, and I don't see it going back to 2% anytime soon unless something drastic happens, and that's not on the horizon. So we’ve got to fight that negative sentiment for a while now.” He said that the potential Newmont-Newcrest merger is also weighing heavily on the sector, but if it goes through, it has the potential to change the fortunes of the juniors.
Hoffmann said that in the current environment, it’s not surprising to see interest move from precious metals into the base and battery metals.
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