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Otavio (Tavi) Costa, portfolio manager at Crescat Capital, highlights that gold miners are currently sitting at support levels not seen in nearly 40 years.
He urges investors to consider this long-term technical backdrop when making portfolio decisions.
Costa has previously noted that gold miners are trading at historic discounts to the S&P 500 despite maintaining solid fundamentals. In an earlier update, he pointed to a shift in the sector as gold miners displayed signs of bottoming. These observations frame the current technical support levels he highlights.