Gold is money, but it’s a different kind of money. It’s not central bank money. Gold is the exception to the currency wars.
When the interest rate hike rumours grow, which will inevitably change the sentiment, gold will reverse its trend.
GDX tracks the overall performance of gold miners, where 55.4% of the companies are listed Canadian stocks. In other words, the gold euphoria has gone global.
Gold bugs believe that, when the ticking debt bomb explodes, the stock market will crash and gold will fly through the roof.
That pause you hear in the war on cash? That’s your enemy reloading with the next volley. Swiss bank UBS has warned its private clients that it may cost them to hold cash with the bank. That is not a…
There’s clearly plenty of momentum. And gold will probably re-test the 2015 high of US$1,307 per ounce this week. If this happens, Aussie gold stocks should benefit.
St Barbara Ltd [ASX:SBM] share price picked up another 2.35% in today’s trading. Year-to-date, SBM shares have picked up more than 50% in gains, vastly outperforming some of the other stocks in the Aussie stock universe.
Newcrest Mining Limited [ASX:NCM] ended higher for the week after good news dominated the market for the last two days.
Value of contracts traded constant...amount of gold backing those contracts — down 43% in five years. Where’s all the gold going?
Gold has thrived on the ‘wait and see’ approach by central bankers this year. Obviously, economic uncertainty has grown.