Playing Defence: Gold & APA Group
Gold stocks have totally underperformed the highs recently achieved by the underlying gold price, notably in AU$ terms. Somewhat frustrating as a holder. It reminds me a little of when WDS was lagging the oil price upward movement a few years ago, but did then catch up. Do you envisage the Australian gold stocks to catch-up to the underlying commodity price? Is it worth to continue to be patient? If not, would APA be a good defensive alternative as this appeals to be a good buy at current levels along with an attractive dividend yield? WGX - Do you think they will execute their call option of 2500oz per month delivery at $3240 until June 2024? This would surely lock in some margin security. Nothing has been announced following the gold price hitting the call option level last week.
