Higher gold prices will continue to bleed into miner earnings. Even if the price stalls at $4000, the miner's results will improve through 2026. So even though we know this will happen, I think that the stock market reaction will be positive. While both the AISC and Capex will rise, they will be overwhelmed by the price-cost differential.
Higher gold prices will continue to bleed into miner earnings. Even if the price stalls at $4000, the miner's results will improve through 2026. So even though we know this will happen, I think that the stock market reaction will be positive. While both the AISC and Capex will rise, they will be overwhelmed by the price-cost differential.
Indeed, similar situation with tech stocks "expensive for a reason, looking overvalued, but could easily head higher because fundamentals/EPS growth"
I feel so much more comfortable making predictions about the gold mining business than I do about whatever it is that NVDIA does.
lol! :-)
Fair enough, but also great point to trade what you know
Hi Callum,
I'm a bit late to this one but did you see the retail queue in October to buy Gold? Never a good sign....
https://www.theguardian.com/business/2025/oct/22/gold-price-australia-thousands-queuing-sydney-bullion-store
Not so m-ANY people in the queue these days.
Also in another not good sign and more recently, did you see who the biggest buyer of gold has been recently?
https://www.ft.com/content/37f80249-2ca0-4369-9898-bde2689d443a
OMG not for me!