Gold is still the on track to becoming the best-performing asset of 2022, outpacing the broad equity index and Bitcoin, said Gareth Soloway, chief market strategist of InTheMoneyStocks.com.
“[Gold] hasn’t broken out of its short-term wedge just yet, but it is certainly getting close,” Soloway told David Lin, anchor for Kitco News.
Soloway is still short-term bearish on Bitcoin and stocks, and has downgraded his maximum downside target for Bitcoin.
“It’s just looking at the metrics and the performance of Bitcoin…I do think it’ll at least pierce $20,000. I don’t think much below that. I’ll be a big buyer as soon as we get close to $20,000 and then all the way below that because I remain a long-term huge bull,” he said.
Join Gareth Soloway, Lyn Alden, founder of Lyn Alden Investment Strategy, and host David Lin on January 25 at 3:00 pm ET for a special, LIVE panel discussion on Bitcoin, gold, stocks, and the economy. Questions from the audience will be taken live. Register here.
For Soloway’s top stock picks, watch the video above.
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