$Newmont (NEM.US)$ Hello everyone, hope you all are enjoying...
$Newmont (NEM.US)$ Hello everyone, hope you all are enjoying your weekend so far.
NEM will report its Q2 earnings Wednesday July 24th. In Q1 of 2024, gold prices averaged around 2,050 per oz. In Q2, gold prices averaged even higher at around 2,350 per oz. This is $300 additinal dollar of profits that goes into the company’s bottom line for every oz of gold mined. Costs remained flat QoQ. I expect we shall see another blow off top earning report from NEM in its earning per share and cash flow.
AEM, Agnico Eagle, will hold its Q2 earning call on July 31. Another superb gold miner that is expected to deliver a blow off top earning report.
The Q2 earning report will continue into August where I expect to see most of well managed gold miner flourish. An even better news is that we are only at the beginning of a gold bull run cycle. 1st interest rate cut is expected by the Fed in September. More rate cuts are expected into next year as world wide economy slow down continues. increasing US debts, reckless government spendings and more printing of paper money will keep fiat currency to continue to depreciate and with weaker DXY. World central banks are also buying more and more gold to hedge against inflations and to turn away from USD. All these are expected to further fuel the fire to drive gold prices higher.
On Friday we see gold and miners shares had a nice dip for the trading day. Any dips to me are good opportunities to buy and to accumulate more shares. Most people are not paying attention to gold. I expect this bull run to continue for the next 2 years and gold to reach much higher prices surpassing $6,000 per oz.
Some other stock to consider:
GDX, senior gold miner ETF. this consist of a pool of well known gold miner companies including NEM and AEM are also included in GDX hokdings.
GDX, senior gold miner ETF. this consist of a pool of well known gold miner companies including NEM and AEM are also included in GDX hokdings.
GDXJ, junior gold miner ETF. Mid size gold companies that may experience even higher returns due to its smaller sizes.
GLD, spot gold ETF. Safest gold investment. It tracks the gold price index. However upside will follow gold but will be lower than potential miners up move.
SLV, spot silver should not be ignored. Silver have largely industrial use but also as money. I expect going forward many countries will need to build more pwer plants as the world move into EV and AI. Therefore huge amount of silver will be required for each nuclear power plant. Which bring me to uranium. Another commodity we need to keep our eyes on. Too early to buy now but definitely someyhing to include after uranium price pull back.
Potential short term profitable none gold related is SCO. This is oil ETF for shorts. As world economy continue to slow down, I expect crude oil continue to fall. As crude oil fall SCO price will go up since this fund is shorting oil. Crude oil just starting to pull back last week from its recent high of $84+. Can make nice profits if anyone is interested. Target $20 to $25
Please note, this is not financial advice. Do your own research before investing your hard earned money. Cheers.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Retailers must include gold in their portfolio during rate cut cycle and economic slowdown. Consider NEM, GDX, GLD, GDXJ
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Mr Value investor : Good one !!