This is a little depressing, but in the gold sphere, Rick Rule is not a name to be easily dismissed.
He said, when the gold price multiplied by seven or eight times (from memory), the share prices of the gold miners basically flat lined, due to increased costs, financialisation, greedy sub-contractors, royalties, etc.
The gold price may go to $AUD10,000 due to the Straits of Hormuz being shut down, but then NST will have to pay $US300-500, for a barrel of oil, to get the gold out of the super pit.
https://youtu.be/SUxRUlrWlIE?t=1908
A canny investor would be better to avoid the share market and just buy physical gold, and spend his day in the popcorn factory, and the coffee shops, or even investing his money in the gold allocated accounts in the Perth Mint.
This is not to say that there is not money to be made, in our favourite goldies, but as always, there is no sure thing, and timing will always be everything!
This is a little depressing, but in the gold sphere, Rick Rule...
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Last
$15.85 |
Change
0.150(0.96%) |
Mkt cap ! $18.22B | |||
| Open | High | Low | Value | Volume |
| $16.00 | $16.05 | $15.81 | $86.08M | 5.402M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9868 | $15.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.86 | 1500 | 1 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| NST (ASX) Chart |