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Gold Digger: Fed and USD flatten gold, but Ray Dalio predicts money printing bonanza
Gold’s price is going nowhere but sideways at best at present. Cheer up, though, because Ray Dalio predicts economic pain … Read More
The post Gold…
- Largely thanks to Fed hawkishness, gold’s price is going nowhere but sideways and slightly down just at the moment
- That said, many an economist, and the odd legendary investor, is still crystal balling looming recession and a money-printing bonanza
Our Gold Digger column wraps all the news driving ASX stocks with exposure to precious metals.
The Fed hasn’t done gold any favours this week. That said the price hasn’t exactly fallen off the cliff, either.
A pause on hiking again this month but the hawkish “higher for longer” interest rates rhetoric from Jerome Powell and pals may as well refer to the US dollar, which, for now is showing strength.
Meanwhile, the price of gold has taken the lower road, dipping a bit since the Fed meeting, currently trading for US$1,923 per ounce. The Australian gold price is about $2,996.
The simplisitc take for gold is that a stronger US dollar tends to keep the precious metal’s price lower, whereas a weaker Greenback tends to push the safe-haven asset higher.
Gold, however, shiny old devil that it is, doesn’t mind a bit of economic pain, and it feeds off the money printing and high inflation that tends to sooner or later come with it.
The Fed is aiming for a contained, controlled “soft landing” for the US economy, obviously looking to avoid recession and keep the buck in a position of strength. It’s indicating it thinks it’s … possible it could achieve that… At least that’s what we think Powell is saying here…
Chair Jerome Powell says a soft landing is still possible but stresses that the Fed has to approach with caution https://t.co/FbhOdhNETA pic.twitter.com/qedgBv4ny3
— Bloomberg Markets (@markets) September 20, 2023
If the Fed really does think it’s half a chance to achieve a soft landing, who then thinks it’s completely deluded? Plenty of economists and observers it seems – for example US-based analyst Sven “Northman Trader” Henrich, among others…
— BearWithMe (@snowytrade) September 21, 2023
LEAKED: Fed model soft landing scenarios pic.twitter.com/MKIqo5nqwu
— Sven Henrich (@NorthmanTrader) September 19, 2023
#FOMC now.
Softlanding incoming pic.twitter.com/7FuhI9T1v0
— Stockmoney Lizards (@StockmoneyL) September 20, 2023
But for his take on the US economy this week, one other prominent voice in particular stands out. And that’s…
Ray Dalio
The renowned US billionaire investor Ray Dalio indicated this week that America is a strong chance to soon once again hit switch on its money printers as the country takes on even greater debt (which, by the way, currently stands at more than US$33 trillion dollars).
The 74-year-old Dalio, of Bridgewater Associates hedge fund fame, was speaking at the All-In Summit earlier this week in the US, hosted by a popular economics and tech podcast group called All-In.
Dalio believes that a recession is very likely looming, which he says would see the Fed and US government bring back quantitative easing.
“What happens is debt rise is relative to incomes,” said Dalio.
“What that means, mechanistically, is that debt service payments rise relative to incomes, and so it squeezes out consumption as the debt compounds. And what happens is there’s a realisation that they have to print money.
“I think you’re going to see in the next downturn another move to print money.”
Printing money debases the value of the currency, as more supply floods the market. This then leads to a decline in the value of US bonds, Dalio explained. And the billionaire believes there’s a “big risk” around this at the moment for the US.
“The big risk comes when they [bond holders] don’t want to hold those bonds anymore because of the supply-demand… because [when a country] has a deficit, it has to borrow, and so it sells its bonds.”
The upshot? If Dalio is correct, even if a mild recession plays out, it looms as the perfect setup for a safe-haven run on the price of gold.
Winners & Losers
Here’s a broad look at how ASX-listed precious metals stocks are performing:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.
Stocks missing from this list? Email [email protected]
| CODE | COMPANY | 1 WEEK RETURN % | 1 MONTH RETURN % | YTD RETURN % | 12 MONTH RETURN % | PRICE | MARKET CAP |
|---|---|---|---|---|---|---|---|
| MRR | Minrex Resources Ltd | -7% | 0% | -72% | -56% | 0.014 | $15,188,145 |
| NPM | Newpeak Metals | 0% | 0% | 0% | 0% | 0.001 | $9,995,579 |
| ASO | Aston Minerals Ltd | -10% | -23% | -57% | -54% | 0.037 | $47,192,795 |
| MTC | Metalstech Ltd | -23% | -25% | -63% | -71% | 0.15 | $28,290,689 |
| FFX | Firefinch Ltd | 0% | 0% | 0% | 0% | 0.2 | $236,569,315 |
| GED | Golden Deeps | -6% | -18% | -61% | -39% | 0.055 | $6,353,729 |
| G88 | Golden Mile Res Ltd | -18% | -16% | 0% | 52% | 0.031 | $10,869,854 |
| DCX | Discovex Res Ltd | 25% | 25% | -50% | -17% | 0.0025 | $8,256,420 |
| NMR | Native Mineral Res | 18% | 12% | -71% | -57% | 0.047 | $9,673,710 |
| AQX | Alice Queen Ltd | 8% | -7% | -78% | -68% | 0.013 | $1,644,693 |
| SLZ | Sultan Resources Ltd | -11% | -14% | -76% | -72% | 0.024 | $3,556,561 |
| MKG | Mako Gold | -20% | -30% | -69% | -60% | 0.016 | $11,520,164 |
| KSN | Kingston Resources | 2% | 6% | -5% | 2% | 0.083 | $41,330,832 |
| AMI | Aurelia Metals Ltd | -10% | 16% | -55% | -20% | 0.095 | $161,783,348 |
| PNX | PNX Metals Limited | -17% | 0% | -33% | -41% | 0.0025 | $13,451,562 |
| GIB | Gibb River Diamonds | -10% | -21% | -50% | -55% | 0.027 | $5,710,755 |
| KCN | Kingsgate Consolid. | 4% | 3% | -19% | -29% | 1.22 | $309,302,030 |
| TMX | Terrain Minerals | 11% | -9% | -38% | -17% | 0.005 | $6,288,219 |
| BNR | Bulletin Res Ltd | 23% | 35% | -43% | -20% | 0.074 | $22,312,924 |
| NXM | Nexus Minerals Ltd | 2% | -19% | -74% | -73% | 0.053 | $17,249,025 |
| SKY | SKY Metals Ltd | -12% | 18% | -13% | -6% | 0.045 | $20,455,056 |
| LM8 | Lunnonmetalslimited | 3% | -6% | -9% | -8% | 0.82 | $157,446,385 |
| CST | Castile Resources | -7% | 0% | -51% | -41% | 0.056 | $13,546,536 |
| YRL | Yandal Resources | 2% | 2% | -67% | -48% | 0.051 | $8,047,957 |
| FAU | First Au Ltd | 0% | 20% | -50% | -25% | 0.003 | $4,355,980 |
| ARL | Ardea Resources Ltd | -3% | -21% | -34% | -16% | 0.595 | $115,823,839 |
| GWR | GWR Group Ltd | 2% | 9% | 14% | 61% | 0.095 | $30,515,582 |
| IVR | Investigator Res Ltd | 13% | 2% | -12% | 5% | 0.044 | $60,361,141 |
| GTR | Gti Energy Ltd | 6% | 6% | -57% | -21% | 0.0085 | $17,382,050 |
| IPT | Impact Minerals | 0% | -8% | 71% | 71% | 0.012 | $37,241,151 |
| BNZ | Benzmining | -11% | 14% | -14% | 10% | 0.45 | $51,047,798 |
| MOH | Moho Resources | 0% | -11% | -74% | -62% | 0.008 | $2,176,284 |
| BBX | BBX Minerals Ltd | -6% | -11% | -52% | -69% | 0.033 | $17,602,976 |
| PUA | Peak Minerals Ltd | 20% | 0% | -67% | -50% | 0.003 | $3,124,130 |
| MRZ | Mont Royal Resources | -7% | -9% | -13% | 14% | 0.2 | $16,458,987 |
| SMS | Starmineralslimited | 0% | -7% | -55% | -44% | 0.04 | $1,450,112 |
| MVL | Marvel Gold Limited | 9% | 0% | -57% | -54% | 0.012 | $10,365,488 |
| PRX | Prodigy Gold NL | 50% | 80% | -18% | -25% | 0.009 | $14,008,863 |
| AAU | Antilles Gold Ltd | 4% | -14% | -51% | -20% | 0.024 | $16,336,290 |
| CWX | Carawine Resources | 18% | -4% | 35% | 30% | 0.13 | $25,586,271 |
| RND | Rand Mining Ltd | -5% | 0% | -13% | -4% | 1.3 | $73,938,749 |
| CAZ | Cazaly Resources | -3% | -11% | 5% | 15% | 0.039 | $16,195,123 |
| BMR | Ballymore Resources | -8% | -27% | -50% | -27% | 0.11 | $16,081,699 |
| DRE | Dreadnought Resources Ltd | -3% | 17% | -54% | -50% | 0.0525 | $181,403,724 |
| ZNC | Zenith Minerals Ltd | -10% | 32% | -69% | -65% | 0.094 | $33,476,184 |
| REZ | Resourc & En Grp Ltd | 7% | 7% | -24% | 0% | 0.016 | $7,996,893 |
| LEX | Lefroy Exploration | -12% | -8% | -44% | -29% | 0.185 | $32,091,600 |
| ERM | Emmerson Resources | -3% | -3% | -18% | -12% | 0.066 | $34,316,717 |
| AM7 | Arcadia Minerals | 2% | -9% | -68% | -51% | 0.1 | $11,521,136 |
| ADT | Adriatic Metals | -4% | -11% | 59% | 10% | 3.46 | $847,964,784 |
| GMR | Golden Rim Resources | -14% | -11% | -44% | -19% | 0.025 | $14,789,709 |
| CYL | Catalyst Metals | -4% | -21% | -61% | -60% | 0.47 | $103,441,146 |
| CHN | Chalice Mining Ltd | -9% | -49% | -37% | -60% | 2.525 | $987,966,792 |
| KAL | Kalgoorliegoldmining | 20% | 3% | -78% | -64% | 0.03 | $4,453,022 |
| MLS | Metals Australia | -3% | 13% | -29% | -24% | 0.034 | $21,841,267 |
| ADN | Andromeda Metals Ltd | -8% | -15% | -53% | -50% | 0.022 | $68,420,186 |
| MEI | Meteoric Resources | 15% | 24% | 1550% | 367% | 0.2475 | $456,054,425 |
| SRN | Surefire Rescs NL | 3% | -3% | 11% | 29% | 0.0155 | $26,421,816 |
| SIH | Sihayo Gold Limited | 0% | 100% | -20% | 0% | 0.002 | $24,408,512 |
| WA8 | Warriedarresourltd | 1% | -11% | -49% | -55% | 0.076 | $37,003,713 |
| HMX | Hammer Metals Ltd | -9% | -7% | 4% | -26% | 0.05 | $46,979,589 |
| WCN | White Cliff Min Ltd | 50% | 71% | -43% | -14% | 0.012 | $12,570,186 |
| AVM | Advance Metals Ltd | 0% | 0% | -50% | -40% | 0.006 | $3,531,352 |
| WRM | White Rock Min Ltd | 0% | 0% | -25% | -5% | 0.063 | $17,508,200 |
| ASR | Asra Minerals Ltd | 0% | 0% | -70% | -60% | 0.008 | $11,523,097 |
| MCT | Metalicity Limited | 0% | 33% | -50% | -33% | 0.002 | $7,472,172 |
| AME | Alto Metals Limited | -2% | -6% | -33% | -30% | 0.047 | $33,567,404 |
| CTO | Citigold Corp Ltd | 0% | 13% | -25% | -25% | 0.0045 | $12,931,466 |
| TIE | Tietto Minerals | 7% | -26% | -24% | -48% | 0.365 | $391,509,896 |
| SMI | Santana Minerals Ltd | -4% | -5% | -18% | -13% | 0.57 | $106,014,719 |
| M2R | Miramar | 4% | -2% | -50% | -34% | 0.05 | $6,996,869 |
| MHC | Manhattan Corp Ltd | 0% | -20% | 0% | 45% | 0.008 | $20,558,858 |
| GRL | Godolphin Resources | -8% | -10% | -57% | -56% | 0.036 | $6,431,197 |
| TRY | Troy Resources Ltd | -100% | -100% | -100% | -100% | 0 | $62,920,961 |
| SVG | Savannah Goldfields | 0% | 0% | -75% | -63% | 0.07 | $14,030,816 |
| EMC | Everest Metals Corp | 0% | -18% | 15% | 46% | 0.115 | $15,327,558 |
| GUL | Gullewa Limited | 0% | 0% | -8% | -8% | 0.055 | $10,767,521 |
| CY5 | Cygnus Metals Ltd | -5% | -20% | -26% | -51% | 0.185 | $51,297,866 |
| G50 | Gold50Limited | -23% | -20% | -14% | -52% | 0.12 | $13,375,089 |
| ADV | Ardiden Ltd | 10% | -21% | -31% | -21% | 0.0055 | $14,785,844 |
| AAR | Astral Resources NL | 28% | 38% | 14% | 26% | 0.091 | $64,772,679 |
| MGV | Musgrave Minerals | 15% | 22% | 66% | 86% | 0.39 | $227,615,060 |
| VMC | Venus Metals Cor Ltd | 30% | 4% | 36% | 66% | 0.13 | $24,664,729 |
| NAE | New Age Exploration | -22% | 56% | -22% | 0% | 0.007 | $10,051,292 |
| VKA | Viking Mines Ltd | 10% | 0% | 22% | 10% | 0.011 | $11,277,843 |
| LCL | LCL Resources Ltd | -8% | -10% | -5% | -51% | 0.028 | $22,240,525 |
| MTH | Mithril Resources | 0% | 0% | -60% | -43% | 0.002 | $3,368,804 |
| ADG | Adelong Gold Limited | 6% | 6% | -5% | 36% | 0.0095 | $5,366,901 |
| RMX | Red Mount Min Ltd | 0% | 0% | -33% | -20% | 0.004 | $10,694,304 |
| PRS | Prospech Limited | -11% | -17% | -24% | -11% | 0.024 | $5,493,999 |
| XTC | Xantippe Res Ltd | 0% | 0% | -81% | -67% | 0.001 | $17,528,005 |
| TTM | Titan Minerals | -5% | -30% | -42% | -45% | 0.037 | $57,534,608 |
| NML | Navarre Minerals Ltd | 0% | 0% | -60% | -54% | 0.019 | $28,555,654 |
| MZZ | Matador Mining Ltd | -12% | -12% | -54% | -56% | 0.051 | $17,979,740 |
| KZR | Kalamazoo Resources | -13% | -26% | -57% | -52% | 0.1 | $17,806,294 |
| BCN | Beacon Minerals | 0% | 0% | 4% | -11% | 0.025 | $90,162,436 |
| MAU | Magnetic Resources | -1% | 0% | -17% | -8% | 0.79 | $191,932,768 |
| BC8 | Black Cat Syndicate | 7% | -13% | -26% | -31% | 0.245 | $75,185,780 |
| EM2 | Eagle Mountain | -14% | -25% | -71% | -56% | 0.075 | $23,787,415 |
| EMR | Emerald Res NL | 5% | 16% | 130% | 118% | 2.58 | $1,592,943,186 |
| BYH | Bryah Resources Ltd | -6% | -6% | -39% | -34% | 0.017 | $6,096,290 |
| HCH | Hot Chili Ltd | -8% | -5% | 16% | 43% | 1.255 | $150,500,960 |
| WAF | West African Res Ltd | 0% | -0% | -25% | -31% | 0.8075 | $836,282,158 |
| MEU | Marmota Limited | 0% | 7% | -34% | -35% | 0.031 | $32,822,818 |
| NVA | Nova Minerals Ltd | -6% | -20% | -68% | -65% | 0.24 | $51,668,040 |
| DCN | Dacian Gold Ltd | -5% | 0% | 22% | 5% | 0.105 | $133,848,103 |
| SVL | Silver Mines Limited | 9% | 9% | 6% | -8% | 0.185 | $252,779,786 |
| PGD | Peregrine Gold | 0% | 20% | -49% | -22% | 0.3 | $16,853,283 |
| ICL | Iceni Gold | -1% | -10% | -14% | 3% | 0.082 | $21,587,143 |
| FG1 | Flynngold | -9% | -17% | -49% | -42% | 0.058 | $7,773,807 |
| WWI | West Wits Mining Ltd | -3% | -3% | -9% | -9% | 0.0145 | $33,658,861 |
| RML | Resolution Minerals | 20% | 20% | -40% | -25% | 0.006 | $6,286,459 |
| AAJ | Aruma Resources Ltd | -6% | -16% | -50% | -40% | 0.032 | $6,694,311 |
| AL8 | Alderan Resource Ltd | 38% | 57% | 10% | 57% | 0.011 | $7,400,336 |
| GMN | Gold Mountain Ltd | 8% | -30% | -13% | 0% | 0.007 | $15,883,550 |
| MEG | Megado Minerals Ltd | 10% | -23% | -45% | -2% | 0.044 | $11,959,411 |
| HMG | Hamelingoldlimited | -3% | -3% | -40% | -40% | 0.087 | $13,702,500 |
| TBA | Tombola Gold Ltd | 0% | 0% | -28% | 0% | 0.026 | $33,129,243 |
| BM8 | Battery Age Minerals | -18% | -35% | -46% | -46% | 0.27 | $23,999,460 |
| TBR | Tribune Res Ltd | 1% | -7% | -6% | -18% | 3.3 | $173,144,654 |
| FML | Focus Minerals Ltd | 6% | 0% | 38% | -29% | 0.18 | $48,714,970 |
| GSR | Greenstone Resources | 0% | -23% | -85% | -69% | 0.01 | $13,409,548 |
| VRC | Volt Resources Ltd | 0% | -20% | -72% | -47% | 0.008 | $31,515,391 |
| ARV | Artemis Resources | -8% | 50% | -31% | 32% | 0.033 | $53,547,225 |
| HRN | Horizon Gold Ltd | -1% | 0% | -7% | 6% | 0.33 | $41,309,942 |
| CLA | Celsius Resource Ltd | -4% | -8% | -15% | -31% | 0.011 | $25,829,594 |
| QML | Qmines Limited | -6% | -24% | -27% | -40% | 0.099 | $20,712,460 |
| RDN | Raiden Resources Ltd | 19% | 208% | 387% | 679% | 0.037 | $80,127,594 |
| TCG | Turaco Gold Limited | 9% | 15% | 13% | 3% | 0.06 | $30,163,000 |
| KCC | Kincora Copper | -20% | -19% | -48% | -52% | 0.035 | $6,254,783 |
| GBZ | GBM Rsources Ltd | -6% | -16% | -61% | -63% | 0.016 | $10,545,471 |
| DTM | Dart Mining NL | -4% | -19% | -71% | -53% | 0.026 | $4,498,318 |
| MKR | Manuka Resources. | 0% | -9% | -66% | -41% | 0.05 | $28,688,523 |
| AUC | Ausgold Limited | 14% | 0% | -23% | -30% | 0.033 | $75,772,660 |
| ANX | Anax Metals Ltd | -6% | -6% | -32% | -13% | 0.046 | $19,775,580 |
| EMU | EMU NL | 50% | 50% | -46% | -39% | 0.003 | $4,350,064 |
| SFM | Santa Fe Minerals | -2% | -2% | -49% | -46% | 0.043 | $3,131,208 |
| SSR | SSR Mining Inc. | -0% | 3% | 9% | -1% | 22.71 | $481,237,019 |
| PNR | Pantoro Limited | -9% | -20% | -76% | -55% | 0.043 | $234,181,373 |
| CMM | Capricorn Metals | 0% | 7% | 50% | -7% | 4.27 | $1,624,139,316 |
| X64 | Ten Sixty Four Ltd | 0% | 0% | -7% | -11% | 0.57 | $130,184,182 |
| SI6 | SI6 Metals Limited | 0% | 60% | 14% | 33% | 0.008 | $15,950,875 |
| HAW | Hawthorn Resources | -4% | 4% | 25% | 4% | 0.12 | $40,201,874 |
| BGD | Bartongoldholdings | -21% | -20% | 16% | -10% | 0.18 | $40,033,697 |
| SVY | Stavely Minerals Ltd | 3% | -13% | -55% | -70% | 0.074 | $28,309,711 |
| AGC | AGC Ltd | 12% | 18% | -10% | 10% | 0.066 | $7,000,000 |
| RVR | Red River Resources | -100% | -100% | -100% | -100% | 0 | $37,847,908 |
| RGL | Riversgold | 9% | -8% | -70% | -60% | 0.012 | $11,415,137 |
| TSO | Tesoro Gold Ltd | 2% | -5% | -41% | -42% | 0.021 | $22,125,864 |
| OKR | Okapi Resources | 38% | 58% | -48% | -3% | 0.145 | $31,512,902 |
| CPM | Coopermetalslimited | -4% | 13% | -64% | -43% | 0.135 | $7,184,383 |
| MM8 | Medallion Metals. | 0% | -6% | -60% | -56% | 0.066 | $20,296,865 |
| AUT | Auteco Minerals | 21% | 9% | -15% | -31% | 0.035 | $93,092,838 |
| CBY | Canterbury Resources | 0% | -4% | -23% | -34% | 0.027 | $3,902,135 |
| LYN | Lycaonresources | -2% | -13% | -22% | 0% | 0.275 | $11,619,938 |
| SFR | Sandfire Resources | -3% | 2% | 58% | 13% | 6.155 | $2,782,471,842 |
| NCM | Newcrest Mining | 3% | 8% | 59% | 29% | 26.69 | $23,974,325,925 |
| TMZ | Thomson Res Ltd | 0% | 0% | -78% | -74% | 0.005 | $4,881,018 |
| TAM | Tanami Gold NL | 5% | 8% | -2% | 3% | 0.04 | $47,003,882 |
| WMC | Wiluna Mining Corp | 0% | 0% | 0% | 0% | 0.205 | $74,238,031 |
| NWM | Norwest Minerals | -19% | -40% | -33% | -46% | 0.029 | $9,202,224 |
| ALK | Alkane Resources Ltd | -6% | -4% | -17% | 12% | 0.6 | $363,952,288 |
| BMO | Bastion Minerals | -13% | 0% | -77% | -38% | 0.021 | $4,213,761 |
| IDA | Indiana Resources | 7% | 0% | -6% | 11% | 0.061 | $33,211,916 |
| GSM | Golden State Mining | -1% | 31% | -12% | -6% | 0.0405 | $7,643,531 |
| NSM | Northstaw | -3% | -52% | -77% | -77% | 0.035 | $4,204,445 |
| GSN | Great Southern | -8% | 16% | -35% | -24% | 0.022 | $15,733,820 |
| RED | Red 5 Limited | 18% | 24% | 16% | 27% | 0.26 | $917,480,151 |
| DEG | De Grey Mining | -8% | -8% | 20% | -4% | 1.23 | $1,928,821,172 |
| THR | Thor Energy PLC | 15% | -10% | -55% | -25% | 0.045 | $6,391,506 |
| CDR | Codrus Minerals Ltd | 18% | 2% | 23% | -29% | 0.092 | $6,972,680 |
| MDI | Middle Island Res | -8% | 0% | -66% | -42% | 0.022 | $3,094,481 |
| BAT | Battery Minerals Ltd | -10% | -55% | -76% | -70% | 0.036 | $4,425,366 |
| POL | Polymetals Resources | 15% | 21% | 119% | 43% | 0.35 | $52,033,878 |
| RDS | Redstone Resources | 40% | 17% | -13% | -13% | 0.007 | $6,099,649 |
| NAG | Nagambie Resources | -8% | -35% | -71% | -64% | 0.024 | $13,961,432 |
| BGL | Bellevue Gold Ltd | 2% | 1% | 97% | 30% | 1.47 | $1,711,987,199 |
| GBR | Greatbould Resources | -2% | -9% | -40% | -34% | 0.06 | $31,329,193 |
| KAI | Kairos Minerals Ltd | 0% | -8% | -33% | 10% | 0.023 | $57,660,068 |
| KAU | Kaiser Reef | 3% | -10% | 0% | 6% | 0.175 | $27,357,287 |
| HRZ | Horizon | 9% | 9% | -49% | -39% | 0.037 | $25,788,396 |
| CAI | Calidus Resources | -6% | -6% | -71% | -41% | 0.16 | $100,300,177 |
| CDT | Castle Minerals | 0% | -9% | -67% | -52% | 0.01 | $12,369,423 |
| RSG | Resolute Mining | -2% | 9% | 74% | 71% | 0.3425 | $745,152,299 |
| MXR | Maximus Resources | -7% | -16% | -48% | -35% | 0.026 | $8,326,650 |
| EVN | Evolution Mining Ltd | -7% | 5% | 75% | 18% | 3.51 | $6,540,374,570 |
| CXU | Cauldron Energy Ltd | -9% | 67% | -26% | 43% | 0.01 | $8,564,118 |
| DLI | Delta Lithium | -1% | -7% | 30% | 66% | 0.79 | $420,800,348 |
| ALY | Alchemy Resource Ltd | 8% | 0% | -38% | -43% | 0.013 | $14,136,915 |
| HXG | Hexagon Energy | 11% | 0% | -41% | -41% | 0.01 | $4,616,243 |
| OBM | Ora Banda Mining Ltd | 7% | 11% | 70% | 15% | 0.097 | $170,205,227 |
| SLR | Silver Lake Resource | -5% | 7% | -21% | -25% | 0.89 | $841,269,900 |
| AVW | Avira Resources Ltd | 100% | 33% | -50% | -33% | 0.002 | $4,267,580 |
| LCY | Legacy Iron Ore | 0% | -11% | -20% | -16% | 0.016 | $102,509,219 |
| PDI | Predictive Disc Ltd | -4% | 8% | 23% | 19% | 0.215 | $465,354,920 |
| MAT | Matsa Resources | 0% | -26% | -30% | -24% | 0.028 | $13,794,547 |
| ZAG | Zuleika Gold Ltd | -14% | 0% | -37% | -43% | 0.012 | $6,276,608 |
| GML | Gateway Mining | -23% | -25% | -67% | -50% | 0.03 | $7,990,006 |
| SBM | St Barbara Limited | 3% | -5% | -45% | -44% | 0.19 | $163,594,076 |
| SBR | Sabre Resources | -6% | 29% | -27% | 16% | 0.044 | $12,825,392 |
| STK | Strickland Metals | 18% | 33% | 20% | 33% | 0.053 | $83,212,532 |
| SAU | Southern Gold | 15% | -12% | -57% | -40% | 0.015 | $6,807,994 |
| CEL | Challenger Gold Ltd | -3% | 8% | -53% | -51% | 0.085 | $102,500,415 |
| LRL | Labyrinth Resources | 17% | 17% | -71% | -57% | 0.007 | $8,312,806 |
| NST | Northern Star | -4% | 6% | 44% | -1% | 10.84 | $12,472,961,511 |
| OZM | Ozaurum Resources | 377% | 281% | 45% | 131% | 0.1525 | $17,780,000 |
| TG1 | Techgen Metals Ltd | -3% | -30% | -81% | -57% | 0.035 | $2,700,890 |
| XAM | Xanadu Mines Ltd | -2% | -6% | 175% | 203% | 0.088 | $145,766,353 |
| CHZ | Chesser Resources | 0% | 0% | 33% | 24% | 0.105 | $65,818,414 |
| AQI | Alicanto Min Ltd | 11% | 5% | -13% | -2% | 0.042 | $25,739,146 |
| KTA | Krakatoa Resources | -5% | -26% | -69% | -55% | 0.02 | $9,806,661 |
| ARN | Aldoro Resources | -8% | -46% | -50% | -31% | 0.11 | $14,808,612 |
| WGX | Westgold Resources. | -5% | 21% | 114% | 98% | 1.73 | $852,520,914 |
| MBK | Metal Bank Ltd | 0% | -9% | -9% | 7% | 0.036 | $11,174,938 |
| A8G | Australasian Metals | 3% | -6% | -49% | -21% | 0.15 | $7,818,074 |
| TAR | Taruga Minerals | 10% | -8% | -66% | -54% | 0.011 | $7,766,295 |
| DTR | Dateline Resources | -24% | -38% | -86% | -65% | 0.013 | $11,510,757 |
| GOR | Gold Road Res Ltd | -1% | 10% | 31% | -2% | 1.6625 | $1,806,355,830 |
| S2R | S2 Resources | 0% | 0% | 18% | -3% | 0.165 | $69,715,559 |
| NES | Nelson Resources. | 0% | -14% | -52% | -14% | 0.006 | $3,681,566 |
| TLM | Talisman Mining | 0% | -10% | 0% | 0% | 0.14 | $26,364,849 |
| BEZ | Besragoldinc | 14% | -13% | 318% | 217% | 0.165 | $60,220,545 |
| PRU | Perseus Mining Ltd | -4% | 2% | 17% | -20% | 1.6875 | $2,340,664,741 |
| SPQ | Superior Resources | -4% | -27% | -49% | -52% | 0.027 | $49,532,951 |
| PUR | Pursuit Minerals | 0% | -17% | -33% | -38% | 0.01 | $30,911,700 |
| RMS | Ramelius Resources | 14% | 21% | 125% | 59% | 1.4825 | $1,635,611,116 |
| PKO | Peako Limited | 0% | -14% | -74% | -59% | 0.006 | $2,824,389 |
| ICG | Inca Minerals Ltd | -29% | -25% | -57% | -35% | 0.015 | $7,365,150 |
| A1G | African Gold Ltd. | -2% | -15% | -39% | -51% | 0.041 | $7,111,071 |
| OAU | Ora Gold Limited | 13% | 42% | 51% | 70% | 0.0085 | $38,093,670 |
| GNM | Great Northern | -4% | -17% | -60% | -60% | 0.024 | $3,711,098 |
| KRM | Kingsrose Mining Ltd | -14% | -26% | -4% | -25% | 0.049 | $37,626,326 |
| BTR | Brightstar Resources | 0% | 0% | -25% | -29% | 0.012 | $22,608,183 |
| RRL | Regis Resources | -4% | 2% | 4% | -25% | 1.555 | $1,208,542,093 |
| M24 | Mamba Exploration | 12% | 4% | -61% | -61% | 0.057 | $3,476,050 |
| TRM | Truscott Mining Corp | 19% | 24% | 28% | 24% | 0.051 | $8,321,619 |
| TNC | True North Copper | -5% | -14% | 260% | 240% | 0.18 | $46,771,461 |
| MOM | Moab Minerals Ltd | -13% | 5% | -38% | 17% | 0.0105 | $7,501,598 |
| KNB | Koonenberrygold | 0% | 3% | -54% | -34% | 0.041 | $3,106,014 |
| AWJ | Auric Mining | -10% | -5% | -51% | -41% | 0.038 | $4,841,805 |
| AZS | Azure Minerals | -3% | -4% | 1215% | 1069% | 2.63 | $1,121,271,823 |
| ENR | Encounter Resources | -11% | -32% | 93% | 56% | 0.28 | $112,724,848 |
| SNG | Siren Gold | -9% | -35% | -64% | -61% | 0.072 | $10,649,771 |
| STN | Saturn Metals | -3% | 3% | -39% | -11% | 0.16 | $25,846,177 |
| USL | Unico Silver Limited | 2% | -4% | -34% | -44% | 0.096 | $28,420,953 |
| PNM | Pacific Nickel Mines | -12% | 2% | -9% | 4% | 0.086 | $35,525,204 |
| AYM | Australia United Min | 0% | 0% | -50% | 0% | 0.003 | $5,527,732 |
| ANL | Amani Gold Ltd | 0% | 0% | -33% | 0% | 0.001 | $25,143,441 |
| HAV | Havilah Resources | -2% | -16% | -27% | -29% | 0.235 | $74,410,214 |
| SPR | Spartan Resources | -4% | 33% | 69% | 130% | 0.385 | $346,659,913 |
| PNT | Panthermetalsltd | -11% | 5% | -64% | -64% | 0.068 | $4,158,200 |
| MEK | Meeka Metals Limited | -10% | -12% | -32% | -34% | 0.045 | $55,110,447 |
| GMD | Genesis Minerals | -6% | 4% | 60% | 23% | 1.5425 | $1,587,818,415 |
| PGO | Pacgold | -9% | -11% | -60% | -44% | 0.2 | $14,070,119 |
| FEG | Far East Gold | -6% | -37% | -76% | -65% | 0.17 | $30,703,056 |
| MI6 | Minerals260Limited | -10% | 3% | 80% | 43% | 0.485 | $114,660,000 |
| IGO | IGO Limited | -7% | -2% | -17% | -9% | 12.265 | $9,178,085,894 |
| GAL | Galileo Mining Ltd | 3% | -32% | -74% | -65% | 0.31 | $60,275,603 |
| RXL | Rox Resources | 13% | -2% | -21% | 26% | 0.22 | $77,406,893 |
| KIN | KIN Min NL | 0% | 0% | -45% | -38% | 0.04 | $45,947,871 |
| CLZ | Classic Min Ltd | 0% | 0% | -94% | -89% | 0.001 | $12,046,242 |
| TGM | Theta Gold Mines Ltd | 12% | 21% | 110% | 113% | 0.145 | $101,510,876 |
| FAL | Falconmetalsltd | -9% | -33% | -36% | -54% | 0.1275 | $22,125,000 |
| SXG | Southern Cross Gold | 3% | 68% | 170% | -6% | 0.755 | $71,143,942 |
| SPD | Southernpalladium | 2% | 78% | -54% | -40% | 0.49 | $21,108,380 |
| ORN | Orion Minerals Ltd | 0% | 0% | 12% | 19% | 0.019 | $108,047,326 |
| TMB | Tambourahmetals | -20% | -10% | 13% | 71% | 0.18 | $14,929,264 |
| TMS | Tennant Minerals Ltd | -9% | 0% | -9% | 0% | 0.031 | $24,301,869 |
| AZY | Antipa Minerals Ltd | 0% | -25% | -54% | -43% | 0.012 | $47,780,003 |
| PXX | Polarx Limited | 11% | 11% | -9% | -50% | 0.01 | $15,596,168 |
| TRE | Toubaniresourcesinc | 0% | -10% | 0% | -19% | 0.13 | $15,278,750 |
| AUN | Aurumin | 40% | 40% | -72% | -54% | 0.028 | $7,759,520 |
| GPR | Geopacific Resources | 0% | 20% | -74% | -44% | 0.018 | $13,960,249 |
| MRR | Minrex Resources Ltd | -7% | 0% | -72% | -56% | 0.014 | $15,188,145 |
| NPM | Newpeak Metals | 0% | 0% | 0% | 0% | 0.001 | $9,995,579 |
At a glance, what’s hot
The week’s biggest golden gainers
OzAurum Resources (ASX:OZM): +377%
Prodigy Gold (ASX:PRX): +50%
White Cliff Minerals (ASX:WCN): +50%
At another glance, what’s not
The week’s biggest falls
Inca Minerals (ASX:ICG): -29%
Dateline Resources (ASX:DTR) : -24%
MetalsTech (ASX:MTC): -23%
The out and out goldie winner this week – as it was last week – has been…
OzAurum Resources (ASX:OZM)
And that’s despite reporting a net loss of $2,923,933 for the year ended 30 June 2023 (30 June 2022: $4,893,835) – as noted in the company’s annual report to shareholders, released late yesterday, sneaking in just before the ASX closing bell.
Last Friday this $19m market capped explorer broke news of its diversification into lithium with the acquisition of the Linopolis Jaime project in the State of Minas Gerais, Brazil, where it appears to be onto some particularly juicy-looking spodumene.
And just a couple of days ago, it kept the good vibes rolling, raising $2.4 million in a share placement to pro and sophisticated investors through the issue of 31,750,000 shares in OZM at a price of $0.075 per share.
A good deal of those funds will be funnelled into its Brazilian lithium operations, including a geological mapping and geochemistry activities, diamond drilling and assessment of further potential lithium project acquisitions in Brazil.
Funding will also be funnelled into the company’s scoping study at the Mulgabbie North gold project in WA.
Recently joining OzAurum in the ASX-housed Brazilian lithium race, by the way, are two other gold stock minnows – Alderan Resources and Adelong Gold.
OZM share price
Around the vaults
Remarkable Chart Showing A Historic Divergence Between Gold Price In China $2,020 vs US $1,909!
Rarely will you ever see such a distortion in pricing that is so clearly in your favor as the buyer. #GOLD #GLDC #CGLCF pic.twitter.com/I3dlPrZzqg— Marco Roque (@BaptistaRoque) September 20, 2023
International-trading-enabled arbitragers take note. Here’s something interesting. Gold in China is trading at a record premium to international prices, which analysts are putting down to China’s escalating battle to defend its currency.
As BNN Bloomberg reports, bullion on the Shanghai Gold Exchange has been trading at a premium of more than $120 an ounce just recently (to the spot USD gold price) – the highest since the exchange was founded more than 20 years ago.
Big trouble in big China, with the country’s real estate woes, and weak economic data weighing on the yuan. This has contributed to an increasing demand for gold in the country.
Per the report… “Investors have been buying domestic gold and selling international ones in an arbitrage trade, since speculations on gold import restrictions started in June,” said Liu Yuxuan, an analyst with Guotai Junan Futures, from Shanghai.
Russia becomes the UAE’s top source of gold after Western countries imposed sanctions on supplies https://t.co/duPkWrSxIv
— Bloomberg Markets (@markets) September 20, 2023
Federal prosecutors are looking into whether an admitted felon helped arrange to give gold bars worth hundreds of thousands of dollars to New Jersey Sen. Robert Menendez or his wife in exchange for help. https://t.co/flP0z0Pebs
— NBC News (@NBCNews) September 21, 2023
The post Gold Digger: Fed and USD flatten gold, but Ray Dalio predicts money printing bonanza appeared first on Stockhead.
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