Barrick Gold (GOLD US) is falling back towards its 2022 low under the weight of rising bond yields, unlike ASX gold producers, it hasn’t enjoyed the benefit of a weak $A. The picture is even worse for Newcrest (NCM) acquirer Newmont (NEM US) whose stock is down -21% year to date, making multi-year lows in the process, i.e. not very exciting for shareholders in NCM as the bid is all share based.
- We believe GOLD will start to outperform as US bond yields and the $US reverse recent gains – MM holds GOLD in our International Portfolio.
MM likes GOLD into current weakness
Add To Hit List
