Stock price when the opinion was issued
HEP-T vs. XGD-T. HEP-T has a covered call overly to the gold stocks and generates extra yield. If you are bullish then you don’t want that covered call. If you are a yield seeker then it is a fine way to get exposure to gold.
He doesn’t follow it. In general he looks at upper $1400s to lower $1500s for gold prices in the coming year. We are in a trading range. Something needs to come along to change that.