Does MM like SLR, NST and Gold into previous metals weakness?
Would you be a buyer/add to SLR circa $0.80c or prefer to accumulate NST into current weakness/pullback with USD at a year high & bond yields? With thanks
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Answer
Hi ,
In line with our medium-term bearish outlook towards bond yields and the $US we remain bullish gold but precious metals have been struggling since Jerome Powell’s post FOMC speech last week. Its guess work to know exactly when the sentiment will turn but we do believe the gold stocks are now in an “accumulation zone”.
- We hold Northern Star (NST) in our Flagship Growth Portfolio believing it looks good value around $10 although on balance we may add to our Evolution Mining (EVN) around $3.20.
- We hold Silver Lake Resources (SLR) in our Emerging Companies Portfolio and believe its good value into weakness ~80c.
