The Evolution mining downgrade dragged the whole gold sector down today, reportedly due to lower expected output due to weather events and absenteeism. How this materially affects Newcrest i don't know but looking where the NCM price is sitting, seeing gold hold around $2,600 Aud and spent years consolidating through Covid, being an excellent hedge against predicted inflation and now hearing that the G7 will announce an import ban on Russian gold indicates to me this is getting cheap. Any drops below 20 look like a screaming buy in my opinion, not financial advice.
NCM Price at posting:
$21.74 Sentiment: Buy Disclosure: Not Held
