A recent round of support for gold has seen the price consolidate above $US1,700 an ounce.
However, with policy support from central banks, US stimulus and employment growth — underpinned by big infrastructure projects — you’d “expect gold to come off a bit in the short term”, says Trent Primmer, head of trading at corporate advisory firm Barclay Pearce.
Longer term, Primmer has no issues with the view that gold can potentially push back above $US2,000/oz.
“You should always have some gold exposure in your portfolio, irrespective of short-term fluctuations. You’ll never get a perfect entry price into something like gold,” he says.
It was a good week for ASX gold stocks. 130 went up, 69 went down, and 34 didn’t move.
Winners & Losers
Here’s how ASX-listed gold & silver stocks are performing:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop
Small cap standouts
De Grey’s (ASX:DEG) (+26%) mammoth Hemi gold discovery keeps getting bigger.
The system is 3.5km long, 3.5km wide and 400m deep and open in almost every direction. People (me) must be wondering just how big the upcoming maiden resource is going to be.
Resources & Energy Group (ASX:REZ) (+29%) is on track to restart mining at the ‘Granny Venn’ open pit mine at the East Menzies gold project within the next quarter after inking a lucrative profit-sharing deal that requires no upfront spend by the company.
And Cauldron Energy (ASX:CXU) (+28%) has permission to access existing underground infrastructure for “exploration and drilling of high priority targets” at its Blackwood Gold project ahead of schedule.
The post Gold Digger: You should ALWAYS have gold exposure in your portfolio, expert says appeared first on Stockhead.
Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.