Digging For Quality: The Case For Goldminers
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Gold and goldminers have corrected 25% from January highs. With our commodity team bullish gold, we are getting long GDX. Goldminers offer a gold-linked hedge against macro outcomes that would likely be damaging for equities, while improvements in profitability, capital discipline, and balance-sheet quality make the sector attractive in its own right, and it is largely independent of AI risk.
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BCA Research | Equities
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