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Gold has already corrected by nearly the same amount as it did in 2008, according to Otavio (Tavi) Costa.
Costa, a portfolio manager at Crescat Capital, stated that while many are behaving as if the selloff is just starting, he sees an opportunity. He said that if the current trend is indeed a secular bull market, there may not be many more chances to buy gold after a pullback like this.
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Costa has previously identified a notable divergence in metals, highlighting silver's price lag as copper continued to outperform in the silver market. He has also emphasized that gold miners held the highest free cash flow yield among U.S. equities, estimating this yield at roughly 10% in a sector comparison. These assessments contribute to his ongoing analysis of precious metals and related equities.