Gold taking bit of a beating tonight as USA market looks to fall. Yesterday and today was pretty brutal on asx. To me it "feels" like the next wave of liquidation (profit taking) and stocks soon to possibly retest last month's low. Fundamentally NCM looking good with any possible mine closures now very very unlikely and Gold surely to rise again after this mini sell off. I bought again in the last 24s, got a bit greedy and held for the past few days, but confident it won't be my worst mistake this year and I'm now keen to top up on another dip. But then again can you ever really trust lihir island?
Low oil price now is all doom and gloom, next month low gas prices at the pump will be reported as "good for the economy". These a'holes just make it up as they go, but the long term upward trend in Gold won't be denied. Can't wait for the next stimulus package as unemployment rises further.
a thought....you want to see the economy truly tank? Imagine people living 6 weeks in lockdown without buying useless shite from a shopping mall.... and then finally realising that all that useless crap never made a difference to their happiness in the first place. So buy Gold.... but also buy Telstra and vocus and any other internet provider because that will now became the absolute norm for EVERYTHING for EVERYBODY! Along with any listed alcohol companies (but maybe not corona). Expect medical weed to get some acceptance too. And potato chip companies
NCM Price at posting:
$27.66 Sentiment: Hold Disclosure: Held
