The price of gold hit an intra-day record high of $2,078.80/oz two weeks ago.
Though the price has since retreated to $1,925/oz, GoldSilver.com’s precious metals analyst Jeff Clark says that’s just a healthy retracement and that he expects new record highs ahead.
One reason for that is because M&A activity is finally heating back up in the gold mining sector.
After many years of underinvestment, available supply is tightening right as demand is rising.
It takes a long time for the “major” mining companies to bring new mines into production, so it’s much faster for them to simply purchase smaller players with proven projects already underway.
Even non-mining companies are getting into the action, as evidenced by the recent surprise purchase of Hycroft Mining by meme stock darling AMC Theaters.
To hear Jeff’s latest outlook for both gold and his custom “GDXJeff” basket of favored mining stocks, watch today’s video with Jeff Clark.
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