Don Durrett of GoldStockData.com weighed in on the recent market meltdown, saying he sees it as another indicator that the US economy is in trouble and heading toward a recession as the year continues.
‘I think that we’re going to see kind of like a 2008 scenario where you start seeing big events,’ he explained.
‘We had a couple banks go bad, but we haven’t had a really big bankruptcy (like a) Lehman or a Bear Stearns event. And I think those are coming — I think Q4 is going to be very, very negative for the markets and better for gold and silver.’
He also shared his price targets for gold and silver, and discussed buying levels for gold stocks.
Watch the interview above for more of Durrett’s thoughts on those topics and more.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.