Gold Profit-Taking, AI Fears Overdone, Indian IT a Buy: Matt Orton

• Matt Orton of Raymond James Investment takes tactical profits on gold after a sharp rally, but remains structurally bullish.
• He advises holding 1.5% to 2% of portfolios in gold for diversification, expecting to add back positions in about a month.
• Orton believes market reactions to AI advancements are exaggerated, creating opportunities in high-quality companies.
• He expresses a constructive view on Indian IT services firms, seeing them as beneficiaries of AI enablement and internal AI adoption.
• Orton anticipates a near-term 'risk-off scenario' and a corrective market phase, viewing any broad sell-off as a buying opportunity.