Gold Pullback in Junior Mining Stocks to be ‘Quite Severe’

by | Aug 23, 2009 | Precious Metals

Bob Hoye, of Institutional Advisors, discusses corporate and government interest rates, the stock market rally, oil and precious metals prices on August 21, 2009.

On how significant a pullback he is expecting in gold and junior mining stocks:

“I think it’s going to be quite severe. I think there will be heavy liquidation across the board and there has been - some of these smaller cap [gold] stocks have had pretty good moves along with the HUI right up into June. And then there’s been a pretty fair sell off.”

“We’ll staywith the theme that there could be selling pressures in the Fall and that then would be a time to accumulate this. “

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