Gold Stocks: NST, GOR, EVN and Canadian B2G
The price of gold is climbing because of Donald Duck's behaviour and the heighten tension in the Middle East. In the mean time , AUD$ is falling too.
In theory and in truth, the price of gold in AUD$ has risen a lot. While gold stocks have risen, with further massive rise in the price of gold, you would expect big ASX gold stocks to rise in value.
Unfortunately logic does not always prevail! I didn't top up any of these stocks because they had already risen (but not rising further with the bigger increase in price of gold).
posted by Club Mulgoa @ 5:38 AM
3 Comments:
Because of my faith in gold and my accidental discovery of how good the management is for each of these stocks, they are my most consistent outperformers in my disastrous foray into the resource sector. Most have gone over 5X since I invested in them. Unfortunately because they kept peaking, I had only rarely made top-ups. But since most have gone up a lot, they are now big parcels :-)
On a day when the All Ords is slightly down, it is very nice to see our gold stocks dragging my performance significantly higher. And of course, the tech stocks helped too but not all of them.
Looks like another day when our portfolios will be rescued by our gold stocks! However, it is worrying as gold is not as stable as what it used to be with Russian and Chinese governments using it like a pawn.
At the same time, I have no idea why US indices are down this AM... It explains a little why the price of gold has gone up but it is too disproportional. At least, tomorrow if JIN rises, I know why... or if JIN falls! Nothing to do with autocratic governments but purely a business happening.
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