‘Uranium is more recession-proof than just about anything else besides gold’ — Lobo Tiggre

Unlike many commodities traders and analysts, Lobo Tiggre, editor of The Independent Speculator, is taking a bearish position on gold, at least for the short term.

Tiggre spoke to Kitco at the Rule Symposium Natural Resource Investing 2023 show in Boca Raton, Florida.

“The apparent victory of Team Soft Landing is not good for gold,” said Tiggre, referring to the prevailing consensus that the U.S. Federal Reserve can bring down inflation with interest rate hikes without causing a recession.

Tiggre is therefore bearish on gold “for the next couple of months”, after which he sees the Fed pivoting to a more dovish monetary policy.

“I think all kinds of good things happen for gold bugs, but until then I think a rational speculator should expect headwinds,” he said.

Tiggre sees further consolidation in the gold space as inevitable given the problem of resource depletion.

He is especially bullish on uranium right now.

“I think uranium is more recession-proof than just about anything else besides gold because it’s baseload power,” Tiggre said, adding that “it’s the most resistant to the headwinds I see in the immediate future.”

Kitco Mining’s coverage of the Rule Symposium Natural Resource Investing 2023 was sponsored by G Mining Ventures.

0:00 Short-term bearish on gold
4:38 Confirmation bias
6:26 Big Tech
7:01 What’s weighing on gold stocks?
13:16 Gold M&A
19:24 Copper and critical metals
21:25 Uranium

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