Spot gold in Aussie dollars is trading today around $3,560 a troy ounce well clear of the all time high.
None of the gold stocks are priced for this.
That price will make up for a lot of short term disruptions in production and higher ASIC that these weather events have caused.
The rain will stop; the roads will open; and these buying opportunities will dry up with it.
The present crop of market players has never seen a real gold bull market and what it can do.
I was trading from the mid 1970's to the 1980's and in 2010 to 2012. The precious metals were the place to be, but not for the faint hearted!
The sequence each time was similar. The metal price moved first but the stocks languished. Then the catch up. The senior producers, next the juniors, the developers, the explorers and finally any stock with the words "gold" or "silver" in its name, address or product, even if it has nothing to do with mining or metals will get a boost just by association as a buying mania unfolds.
This time may be different and the details will vary, but in my experience and opinion we are in for a wild ride!
JMHO and make sure you do your own DD.
Spot gold in Aussie dollars is trading today around $3,560 a...
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Last
$1.65 |
Change
0.040(2.49%) |
Mkt cap ! $1.782B | |||
| Open | High | Low | Value | Volume |
| $1.63 | $1.65 | $1.61 | $10.03M | 6.140M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7331 | $1.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.65 | 78622 | 6 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
$1.63 |
Change
0.040 ( 1.61 %) |
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| Open | High | Low | Volume | ||
| $1.63 | $1.64 | $1.61 | 636378 | ||
| Last updated 15.59pm 31/05/2024 ? | |||||
| GOR (ASX) Chart |