RMS like every other company will crash. The gold price has only been high because gold is used as a safe investmentan and inflation hedge against a falling usd.
When gold hits highs of $1900 all gold companies share prices are overvalued by confident investors.
I think 50% of RMS share price could be a result of the high gold prices.
This gold boom reminds me of the nickel boom before the last crash when nickel reached $50k usd a ton and fell to $8k a ton.
Nickel companies went from a low price of $1.20 to highs of $6 and then fell back to their lows.
This same type of price movement could happen with gold.
If this is a 87 style crash or worst gold could fall down to $700 mark. A similar price movement did happen with gold last GFC but it will be more noticeable this crash.
the end of the bull run for rms
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Last
$1.96 |
Change
0.075(3.98%) |
Mkt cap ! $2.240B | |||
| Open | High | Low | Value | Volume |
| $1.98 | $1.98 | $1.92 | $38.99M | 19.92M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 76412 | $1.96 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.97 | 265057 | 9 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| RMS (ASX) Chart |