(Kitco News) – Investors are dumping lower returns like gold to buy bonds like Tesla shares and bitcoin, said Gareth Soloway, chief market strategist at In The Money Stocks, but Soloway is not yet selling its gold.
“The one thing I would say to investors who like gold is to stick to it. It’s a classic iteration for me, it’s had a big increase, it’s had a sale,” Soloway said. “The shorter-term investors say: why do I have gold as bitcoin rises by 5% every day, or 10% a day, and they sell their gold assets?”
Soloway’s remarks come as Friday’s non-farming report showed a loss of 140,000 jobs in December, the most since the start of the pandemic.
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