David feels the general markets and the way quantitative easing was structured are the reason gold has underperformed. This money instead went into financial markets, real estate, and art. Gold is a fear trade, and over the last few years, we have had mass complacency. If the Fed instead signals that tightening is ending along with rate hikes that could send gold higher. People are currently in a hope phase, hoping that prices will go higher in stocks. If there is another down leg in the markets, it will strengthen the case for a gold rally.
Time Stamp References:1:30 - Outlook for gold and where the money is going.2:30 - Gold is a fear trade, investors still complacent.3:00 - Interest rates and quantitative tightening effects.4:45 - Could QE come back?6:00 - When gold could rally.7:00 - Investors are still in the "hope" phase.8:45 - Positioning yourself in this market - junior plays.13:00 - Canadian Marijuana legalization outlook.14:30 - Possible plays in this sector.18:45 - US dollar outlook and debt risks.