Stock Panic = Lots of Gold, Silver Upside
Precious metals still have plenty of upside, two strategists told CNBC.
Evaristo Stanziale, senior vice president at SCS Commodities, and Mark Hansen, director of trading at CPM Group, offered their insights into gold and other safe-haven commodities.
In the wake of the Lehman, Merrill and AIG implosions, and pressure on Goldman Sachs and Morgan Stanley, investors have fled stocks this week. And that trend will continue, said Stanziale:
"Financial uncertainty will continue...through the end of the year. There's been a shift, and will continue to be, a shift of funds from stocks into precious metals," he predicted.
Stanziale likes gold, silver, platinum and palladium.
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- SPDR Gold Shares
- Market Vectors Gold Miners ETF
- iShares COMEX Gold Trust
- Barrick Gold
- Freeport McMoRan _______________________________
Hansen is also bullish on those four metals. He explains, "Institutional liquidations, especially in the metals markets, are over."
With gold gaining more than $100 over the last two days, can you still make money?
Absolutely, said Hansen. "There is a lot of momentum there."
Disclosure informatiopn was unavailable for Stanziale, Hansen and their companies.