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April 2, 2020, 7:18 p.m. EDT

Guy Adami Sees Gold Moving Higher

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By Benzinga.com

Guy Adami spoke on CNBC's "Fast Money" about price action in gold on Thursday.

The precious metal moved higher and Adami explained traders believe that gold should do well as the Federal Reserve balance sheet is expanding. He thinks gold wins in this environment and it's just starting.

Adami is optimistic as Newmont Corporation /zigman2/quotes/205356474/composite NEM -0.43% bounced off $41-$42 level, while VanEck Vectors Gold Miners ETF /zigman2/quotes/206399889/composite GDX +0.94% and VANECK VECTORS/JR GOLD MINERS ETF /zigman2/quotes/204075079/composite GDXJ +2.61% moved sharply higher. He feels gold and mining stocks are going to continue its move higher.

If you are interested in gold, you can also check SPDR Gold Trust /zigman2/quotes/200593176/composite GLD +0.74% as a way to get an exposure to gold.

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

/zigman2/quotes/205356474/composite
US : U.S.: NYSE
$ 58.47
-0.25 -0.43%
Volume: 23.79M
May 29, 2020 4:00p
P/E Ratio
13.53
Dividend Yield
1.71%
Market Cap
$46.93 billion
Rev. per Employee
$300,083
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/zigman2/quotes/206399889/composite
US : U.S.: NYSE Arca
$ 34.32
+0.32 +0.94%
Volume: 33.43M
May 29, 2020 4:00p
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/zigman2/quotes/204075079/composite
US : U.S.: NYSE Arca
$ 46.08
+1.17 +2.61%
Volume: 9.27M
May 29, 2020 4:00p
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/zigman2/quotes/200593176/composite
US : U.S.: NYSE Arca
$ 162.91
+1.19 +0.74%
Volume: 12.58M
May 29, 2020 4:00p
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