NCM and the gold sector has finally found some love over the last 4-weeks on the combination of a weak $US and increased tensions in the Ukraine. It’s been a frustrating journey being long NCM but considering our bearish view towards the $US we’re still comfortable with our current $29-30 target area i.e. from our perspective given the geopolitical escalation and the “risk-off” mood in global equities its surprising to see only a muted bounce by the greenback.
MM remains long and bullish NCM
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