This one is VERY oversold at the moment. The gold price in $A has stayed at about $2,650 for weeks and months. The Covid thing is a temporary blip. No gold hedging is really necessary. Gold in Oz hedges itself, because if gold goes down, so does the $Oz, and vice versa. It works like clockwork. The guys on the NY trading desks probably all dipped out on geography at school and really think gold is all Oz produces, because we are one of worlds top two producers these days. South Africa is pretty mined out. That is so, but gold is relatively minor behind iron ore, coal, and gas. Some more oversold ones are SLR and LTR.
WGX Price at posting:
$1.31 Sentiment: Buy Disclosure: Held
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