Pado said there is still a short-term trade for gold, but likes the large-cap multinational companies that have been doing “exceptionally well.” Additionally, he also likes the technology sector.
In the meantime, Shelton said September is a seasonally weak month for the dollar while it is strong for gold. He expects gold prices to continue rising.
“It all depends on the Fed’s exit strategy,” he said. “So at some point I think we’re likely to see that velocity of money tick up and that’s when our inflation risk is going to accelerate.”
Shelton said investors can play the falling dollar by owning gold and commodities.
“Own crude oil—you can own gold bullion,” said Shelton. “We particularly like the gold mining companies…and we think you need to own a broad basket of currencies as well.”
Shelton Likes:
S&P Technology
S&P Materials
S&P Energy
Shelton Dislikes:
S&P Financial
S&P Retail
Pado Likes:
S&P Technology
S&P Consumer Discretionary
S&P Materials
Pado Dislikes:
S&P Financial
S&P Energy
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Disclosure:
Shelton’s firm Kanaly Trust, owns gold bullion.
No immediate information was available for Pado or his firm.
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CNBC Slideshows:
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Top Gold Miners:
Newport Mining
AngloGold Ashanti
Barrick Gold
Gold Fields
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Disclaimer
