Gold

[Bobdn]

https://www.youtube.com/watch?v=tkVyVzqNtos

Wayne Gordon, executive director for commodities and foreign exchange at UBS Global Wealth Management, talks about gold, the dollar and oil. He recommends buying gold.

Not that that advice is all that useful for New Zealanders. Looks like most bullion dealers have now run out of gold and silver.

[Bjauck]

https://www.youtube.com/watch?v=tkVyVzqNtos

Wayne Gordon, executive director for commodities and foreign exchange at UBS Global Wealth Management, talks about gold, the dollar and oil. He recommends buying gold.

Not that that advice is all that useful for New Zealanders. Looks like most bullion dealers have now run out of gold and silver.

A field day for NZ bullion suppliers. I think some dealers have increased the minimum purchase quantities too. So small investors have been put to the back of the queue. Unlike toilet paper, gold is being reserved for the big stockpilers! Although to be honest it would be less effective for cleaning the derriere.

[SPARKY]

how do those interested in gold feel the producers will be affected by the virus. I fear the impact on producers and developers may not have been factored into the share prices yet. IE. Many of the mines are fly-in fly-out , Will they be impacted and how badly?
i am Housebound (nearly) now, (too old ), so will likely spend more time trying to gain a few $ playing Mr market. BEAR, BBUS, BBOZ, among others
cheers, and be careful out there, too many people are not taking this seriously enough,

[Aaron]

how do those interested in gold feel the producers will be affected by the virus. I fear the impact on producers and developers may not have been factored into the share prices yet. IE. Many of the mines are fly-in fly-out , Will they be impacted and how badly?
i am Housebound (nearly) now, (too old ), so will likely spend more time trying to gain a few $ playing Mr market. BEAR, BBUS, BBOZ, among others
cheers, and be careful out there, too many people are not taking this seriously enough,

Could be bad but most of the workers will be younger so it might be like a bad dose of the flu for most of them. I would generalise that mine workers are probably the sort not to take it seriously and to not take care so more likely to get infected and spread it. Debt levels and any need for finance may be more terminal for any companies in the near future. If oil is down and the POG recovers then it could work out quite well. I would not really know and I am just making assumptions/guesses.

[Stranger_Danger]

how do those interested in gold feel the producers will be affected by the virus. I fear the impact on producers and developers may not have been factored into the share prices yet. IE. Many of the mines are fly-in fly-out , Will they be impacted and how badly?
i am Housebound (nearly) now, (too old ), so will likely spend more time trying to gain a few $ playing Mr market. BEAR, BBUS, BBOZ, among others
cheers, and be careful out there, too many people are not taking this seriously enough,

This is an important question, and a bit of an unknown. At one extreme, mines could close for a while because of an outbreak or an inability to get miners.

On the other hand though, these jobs could become extremely attractive. A lot of retail workers - whether they admit it or not - probably like the idea of getting Government money for a few months, even if it is slightly less than their wage. For mining workers, I suspect it will be a LOT less than they're used to.

Additionally, two drawbacks of the job have been remote locations/isolation and, in many cases, FIFO and being away from families, as often the partner and kids don't want to be living in the middle of nowhere, and the high wage allows them to live somewhere more conventional.

It is possible in a Coronavirus environment the location and isolation is suddenly an upside, and some of the families want to come along for the ride!

So yeah, I can see it both ways. I could see mines closing and people not wanting to work. But think about it - this is one of the few industries where the product is in higher demand and increasing in price. It also pays pretty well. I could also see an environment where people are MORE keen to work in these jobs and live in these areas than they were before.

The truth is, like so many things currently.....we just don't know.

[JBmurc]

Gold bugs take a bow! In NZD terms (now that the NZD is worth next to nothing) gold has just this moment reached an all time high at NZD $2655 an ounce. Great stuff and shows the power of diversification.

I have 9.5 per of my net worth (financial assets) with the Perth Mint Gold Fund and have built up my position over the last two years on the "advice" of investing legend Mark Mobius.

In NZD terms gold has increased 35% over the last year.

Great work AUD just about as weak which is just insane as Aussie is the biggest Gold exporter in the world ... AUD Gold $2600oz !!

Mines closing well one would think the miners would have programs in place...many base metal miners might well go on C&M as prices are so low hardly any margin much like the O&G producers..

For sure Gold miners would be doing everything possible to keep operating

I personal work on a fishing vessel and hope people keep eating !!!!!

[JBmurc]

Barrick Gold is projected to have $9.5 billion revenue, $1.3 billion net income and nearly $1 billion free cash flow. They’ve reduced debt 75% and raised it’s quarterly dividend 40%. #GOLD miners will be one of the only industries showing strong earnings growth this year. $GOLD

[airedale]

I have 4 OZ gold stocks on my watchlist of 48 stocks and the goldies are the only ones showing positive today.

[JBmurc]

I have 4 OZ gold stocks on my watchlist of 48 stocks and the goldies are the only ones showing positive today.

Yeah wish I shifted to Gold producers sadly holding Explorers which of course have been smashed .. only positive is AMG,MEU,RXL all have production plans i their sights and will re-rate much higher .. CWX far to good of ground and J/Vs with majors to stay this low forever ...

Personal think COVID19 will be cured this year maybe even the worse over pre - mid year ... but economics will take much longer as the Virus was just the icing on the cake to the DEBT bomb and bubble economics we have in place ..inflation is coming forced by Central banks QE

[Bobdn]

Thanks JB but just to be clear I've lost a ton of money overall. I went into this meltdown with 52 per cent shares. Gold is really the only bright spot. I do find that gold helps my mental health. In dark times I think "there's always gold!" (assuming the Perth Mint doesn't collapse and I can sell my PMGOLD units).

This appears to have helped the gold price:

https://www.cnbc.com/2020/03/23/fed-...purchases.html