As we mentioned earlier the Australian gold stocks have endured a tough 2022 with all of the big names retreating while gold is basically unchanged. The precious metal has so far failed to deliver during a period of rising uncertainty & inflation, a backdrop that would normally be regarded as its bread and butter but surging bond yields and a strong $US have offset these moves leaving gold unchanged in 2022, a very different result to the stocks which clearly became overly excited when investors saw gold soar above $US2,000/oz.
The question we consider today is whether these same stocks which were overcooked on the upside into March are now too cheap.
MM is bullish gold over the next 3-months
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