Any decline in gold prices should be considered a buying opportunity

In an interview with Kitco News, Richard Laterman - Investment portfolio manager at ReSolve Asset Management said that with gold prices having increased by more than 50% since the beginning of the year, investors should not be surprised by the current accumulation period.

However, he emphasized that factors driving gold prices throughout 2025 will continue to persist in 2026. The Canadian asset management company is currently managing more than $300 million.

"geopolitical tensions have eased somewhat, but the system is still under a lot of pressure. Geopolitical uncertainty will continue to be an important factor.

The trend of trading based on currency depreciation is still very strong. Increased public spending is a rare issue of bipartisan consensus in Washington, so we would have a hard time expecting a balanced budget in the near future," he said.

In parallel with the rising deficit, Laterman predicts interest rates will continue to decrease next year. The market now sees an 87% chance that the Federal Reserve will cut interest rates this week. In 2026, the market is pricing in at least three more interest rate cuts.

In addition to falling interest rates, Laterman also expects the Fed to implement additional monetary easing measures as market liquidity has tightened in recent weeks.

He said that in this context, as nominative interest rates fall and inflation increase, the purchasing power of legal currencies continues to weaken, making cash holding a greater risk for some investors.

Financial markets are changing at a dizzying pace, but holding a portion of gold could help slow down. It gives investors time to evaluate the market, he said.

With increased liquidity and decreased interest rates, Laterman believes that in addition to gold, the stock market will continue to flourish. He said that this parallel strategy is attracting great attention, as the new fund of ReSolve Asset Management - ETF return Stacked U.S. Stocks & Gold/ Bitcoin (RSSX) has recorded steady growth since its launch at the beginning of the year.

The fund aims to simultaneously bring exposure to US stocks, gold and Bitcoin. For every $1 invested, the ETF is designed to provide $1 in contact with US stocks and $1 in contact with gold/ Bitcoin strategies.

The ratio between gold and Bitcoin is distributed at a risk level. Laterman said the fund has now completely divested from Bitcoin due to recent huge fluctuations.

We expect stocks to continue well this year, but we are particularly confident in gold. Gold is an important fulcrum for a balanced portfolio," he said.

Laterman also sees potential in Bitcoin in 2026, but believes the cryptocurrency needs to reduce volatility.

The US monetary system has lost the ability to tighten the balance sheet. They have to pump more liquidity to keep the system running. In that context, we believe Bitcoin serves as an alternative asset. It will be an important part of the new digital economy".