Compared to rising oil prices, gold is significantly undervalued and is presented with a good buying opportunity, said Leigh Goehring, managing partner at Goehring & Rozencwajg Associates.
“Oil will continue to do well. If oil were to go to $100 a barrel and gold were to stay at these levels, we’re getting down to that undervalued area of 10 to 1, where an ounce of gold only buy 10 barrels of oil, at that point I believe gold will be radically undervalued and will take off,” Goehring told Kitco News on the sidelines of the Mines & Money New York conference.
Goehring noted that even in a rising rate environment, gold has opportunities to rally.
Goehring noted that even in a rising rate environment, gold has opportunities to rally.
- Source, Kitco News
