2024-02-18 23:48:32 ET
Summary
- Wheaton Precious Metals has been affected by the Federal Reserve's fluctuating monetary policies, causing gyrations in gold and precious metals prices.
- In recent weeks, expectations for Fed rate cuts have been normalized, aligning with the Fed's projections.
- I remain comfortable holding onto WPM to take advantage of an eventual Fed rate cut. When that becomes more imminent, I will likely add to my holdings.
It has been a while since I last wrote about Wheaton Precious Metals ( WPM ) directly. Back in January 2023, I downgraded WPM to a hold, as traders had gotten overly optimistic about the Federal Reserve's monetary policies, with many expecting the Fed to start cutting interest rates by July 2023.
Since my downgrade, WPM has essentially tread water, as gold and precious metals companies have been whipsawed by the Fed's meandering monetary policies (Figure 1)....
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For further details see:
Wheaton Precious Metals: Rate Cut Expectations Normalizing; Maintain Hold