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Otavio (Tavi) Costa, portfolio manager at Crescat Capital, suggests that gold appears to be forming a significant bottom.
He observes that all the right signs are present and advises investors to remember that bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.
Costa previously highlighted that gold miners are trading at historic discounts to the S&P 500 despite strong fundamentals. He also recently observed that the money supply is expanding at the fastest pace in five years. These market signals have informed his recent view on the potential for a gold price bottom.