Gold has and always will be an intense fascination for people.
This precious metal has been at the heart of trade for centuries. Today though, in our uncertain times, that fascination has turned to obsession.
We’ve seen the price of gold spike across nearly all major markets. It’s been a major bull-run for the yellow metal.
And for explorers, like Nova Minerals Ltd [ASX:NVA], it could be their ticket to success.
Hitting the jackpot
Yesterday, Nova announced the discovery of an estimated 2.5 million ounces of gold. Just one of the potential 15 gold sites on their Estelle project in Alaska.
In other words, this may just be the tip of the iceberg. As Nova’s managing director, Avi Kimelman put it:
‘This is just a start and we have literally only scratched the surface.
‘Our aggressive drilling efforts will continue upon receiving permits and approvals, with exploration planning around the existing resource already underway.’
With any luck, Nova may be able to transition into a premiere gold miner. At least, that’s what they’ll certainly be hoping for.
The timing couldn’t be more perfect, too. With the run-up in gold showing no signs of easing, now is the time to get digging.
Especially as gold bugs begin to turn their attention to the supply as well as demand of this precious metal. A situation that some renowned experts are raising alarm about.
Jim Rickards has been adamant that gold will continue to run. He still stands by his lofty prediction that it will reach US$10,000 per ounce!
Whether it will soar that high is unclear. But the investing guru certainly makes a logical rationale for it.
For miners like Nova, it’s music to their ears. They will be some of the biggest winners if Rickards is right.
Whether you buy into this bold forecast or not though, the case to own some gold has never been stronger. As my colleague Greg Canavan has painstakingly told his readers time and again, you cannot ignore this precious metal.
I suggest you read his report — which outlines three reasons gold should be in your portfolio — right here.
As miners such as Nova continue to make gains, it isn’t just about wealth preservation, but also generation.
For Money Morning
PS: Here’s why gold is now a buy. Click here to find out more.