With the $US struggling and bond yields starting to drift we like our overweight gold exposure through NST and Newcrest Mining (NCM) unfortunately just not our entry levels. However when we are carrying such positions obviously its prudent to have an exit game plan, the first part of the puzzle will be to evaluate how the stocks react to the macro shift of recent days and this will enable us to formulate target areas to reduce / sell the exposure. At this stage we need to see the sector believe / embrace $US reversion with a little patience probably needed but we can see at least 20% upside from current levels.
MM is looking for NST to test the $11/12 area
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