Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
“Hi guys. Just a query around your NCM recommendations. Last week you were calling for “at least a 20% rally” in the stock and today you are looking to sell 10% higher. Can you provide some insight into your view?” – Regards Scott H. “Hi there, I noticed in one of the newsletters you are selling all your precious metal stocks if they go higher. Can you explain why you would do this if you think the gold price will keep going higher?” - Thanks Kim B.
Morning Guys,
Excuse any confusion, our view on precious metals remains consistent but how the Australian sector performs is a little tougher to call. We are bullish gold looking for a break of its 2020 high but MM doesn’t anticipate this move to be sustainable due to our bullish outlook for bond yields into 2022 and beyond.
In terms of NCM, it has significantly underperformed gold since last years peak and how high it will bounce assuming the underlying gold price does rally is tricky and one we will probably tweak again assuming precious metals do indeed rally.
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