Totally agree gold is heading higher in the long term, but I think it will get sold off again in the short term as equities get pummeled on basic events like:
1. Massive unemployment figures get published 2. Plunging home sales get published 3. USA doesnt re-open before Easter despite what the orange idiot says 4. USA becomes the virus epicenter (adding 10k a day, this should happen end of the week or early next week) 5. Negative growth figures are published
Then you also have the risk that mines are shutdown along with everything else, as has happened to OGC in NZ, also occurring in South Africa and Canada. There is also the risk of infection at site which just shuts them down anyway. NCM already cancelled FIFO to Lihir, this can easily happen here too.
Sold half my NCM today, will happily buy back on the next major dip(s), will unhappily get mad if NCM rockets from here.
NCM Price at posting:
$25.56 Sentiment: Hold Disclosure: Held
