EVN rallied +1.9%, following precious metals higher, their performance this year has been solid, tracking the gold price higher, i.e. EVN is ~6% below Mays high whereas the gold price, in $US, is 2.5% below its May high. However, considering how close gold is to its 2020 all-time high, it would disappoint long-term investors that EVN has fallen more than 40% over the last 3 years but that’s the impact of soaring interest rates on gold stocks, i.e. subscribers shouldn’t forget that the gold sector is at the more volatile end of the investment spectrum.
- We are initially targeting the $4.25-50 area for EVN; we are long EVN in our Active Growth Portfolio.
MM remains long and bullish EVN
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