US dollar weakness is likely to spill into 2024, becoming a bullish catalyst for foreign currencies and a bullish catalyst for commodities broadly. For my speculative recommendation, I’m recommending Alamos Gold (AGI), writes Omar Ayales, editor of Gold Charts R Us.
Some of the assets that are poised to outperform most others are precious metals, particularly gold and silver. Both gold and silver are not only commodities with industrial applications (particularly silver), but they’re also currencies, too (particularly gold).
Consider that central banks globally bought gold during 2023 at a record pace. That will likely flow into 2024 as global fragmenting intensifies.
AGI is a Canadian mid-tier gold producer with solid mining operations in Ontario, Canada and Mexico. AGI has developed an efficient business model, allowing it to produce gold at some of the lowest costs in the industry. Look for AGI to thrive as gold’s rise picks up steam.