Excess Returns · Wednesday, July 29, 2026
Rupert Mitchell believes that despite potential short-term pain for precious metals if the Fed hikes rates, the market may soon be ready to increase exposure to gold. He sees gold as offering valuable defensive characteristics to a portfolio.
“Um, ultimately, you know, if we do, if we do get an unpriced hike tomorrow, there's probably a bit more pain.”
“Um, in the precious metal complex, but then, you know, I feel that we're going to be quite close to being able to strap it back on again.”
“I think I think they merit a, you know, a non-traditional size slug in a balanced portfolio, right?”
“And, you know, where I am at six is probably about, you know, 30 to 40% shy of where I might want to be.”