The market has gone nuts, overreacting in the Aussie gold space. One of the few sectors to be immune to the turmoil with gold prices still above $5000aud due to the dropping Aud. For RSG, we are still nicely poised above $3000usd with strong support. Expect to see liquidity flow to gold when the initial crash dust settles and other sectors like tech, banking, pharma etc struggle to get back to their overpriced and overhyped previous records. We still might have another couple of nights of pain overseas but eventually it has to settle and reverse! When the market starts seeing the record profits arriving in the QAR's at the end of April for the Aussie producing goldies, that will make the world take notice and plenty of international funds will be forced to buy up to recoup all these losses. This will inevitably also flow down to the mid cap and low cap gold space, which I am keeping a close eye on now as some of them are down to 20% in the red due to this fear. Buy the overreaction IMO!
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)