I said it was too early to buy Gold

I wrote this note in late September 2023, suggesting that it was too early to buy #gold and that prices had a little lower to travel.

Still early to buy Gold

It was too early and prices did fall.

The date of that note (September 22, 2023) are highlighted within the charts below.

Also in that note, I was looking for the price of #Newmont (NEM:US) to trade down to $32.50.

It has now done so…..but I don’t think it has bottomed.

I’ll look for lower prices in Newmont stock before becoming interested.

As for the gold price, AUD gold is becoming ‘full’ and while CAD and USD Gold may trend higher, this is not an entry point for me, but merely a mid to late stage participatory trend.

You don’t have to be there because there are other #commodities to consider.

March 4, 2024

by Rob Zdravevski

rob@karriasset.com.au