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Gold Digger: Gold wins popularity contest with US punters, a long way ahead of DOGE, BONK and ASS

  • Gold was the most sought-after personal investment for Americans in 2023: new study
  • Get ready for a 20% rally for the yellow metal in 2024, believes Swedish investment firm
  • The week’s top ASX gold-related stocks led by Koonenberry Gold with an 86% gain 

 

Your gold and ASX gold stocks roundup, Friday January 19. 

 

Go Team Gold, Go! YaaaaaAAAAYYYY… GOLD!

Give me a G… give me an O… give… cutting to the chase we’re spelling gold.

Why the cheerleading? A few reasons, but the article-headlining one is this:

A new study has shown that gold remained the most popular personal investment in the United States in 2023.

The findings come from a financial publisher called The Lazy Trader, which used Google search data to examine the number of searches for each type of personal investment on its list (see below).

The methodology used is interesting – data was gathered from Google Keyword Planner search volumes of different personal investments,  averaged over the period from January 2023 to October 2023 in the US.

Each investment type was combined with terms such as ‘investment tips’, ‘tips’, ‘buy’ and ‘prices’ to discover which ones had the highest search volumes.

Silver was the second most popular, closely followed by oil. Sorry, PEPE the frog, BONK and ASS (Australian Safe Shepherd) fans, but meme coins came in a fair way down the list at 48th.

Source: The Lazy Trader

Judging by these stats and methodology, then, gold has been smashing it, with an average monthly search volume of 1,191,827. It did have a pretty good year overall, with about a 13% return, making it a top commodity play.

“With the elevated interest rates and the continual concerns of a recession in the US, gold can be a reliable long-term investment and outperform other assets like properties and different equities as it is easier to liquidate,” reads The Lazy Trader report.

“There are also tax advantages in gold investments; gold prices have increased considerably in 2023 and have shown stability compared to other markets.”

 

How’s gold faring this week, then?

Gold has picked up pretty well on Friday after a stagnant week. It had been struggling a bit over the past few days, thanks to the cold water poured by the US Fed on great expectations of interest-rate-cutting in 2024.

That’s not to say cuts aren’t likely at some point, but the timeline seems like it has a strong chance of pushing out a tad from the initial anticipation which pegged March as the month for a first cut in 2024.

Traders revised their views on rates after Fed Reserve Governor Christopher Waller said earlier this week that the central bank won’t rush to cut interest rates until it is clear lower inflation will be sustained. However he admits that the Fed is “within striking distance” of the 2% inflation goal.

“When the time is right to begin lowering rates, I believe it can and should be lowered methodically and carefully,” he added.

Despite this, though, gold has recovered somewhat at the back end of this week, with the US spot price lifting from near the psychologically important level of US$2,000/oz, to US$2,027 at the time of writing.

In plastic fantastic Aussie bucks, it’s sporting a reasonably healthy glow, too, trading near $3,080.

Rising tensions (again) in the Middle East may well have something to do with the late-week pick-up, with the safe haven aspect once more coming back into consideration.

Unfortunately for that messy part of the world, sh*t just got even real-er, after Pakistan launched retaliatory airstrikes inside Iran, killing at least nine people.

This comes after Iran’s attack Tuesday on Pakistani soil that killed two. Escalation fears remain palpable, with the US also initiating more air strikes earlier this week against Iranian-backed Houthi rebel targets in Yemen.

 

Swedish investment firm sees 20% gold rally in 2024

Here’s something else, though. According to Swedish investment firm AuAG, “there is no bull market quite like a gold bull market”.

That may be true, but have they ever studied crypto bull markets? Just sayin’.

The AuAg analysts, though, have a very positive outlook on the yellow metal, expecting a 20% rally in the commodity this year, which would push it past US$2,400 an ounce.

Thesis? This, mainly:

“We believe that central banks will shift away from rate hikes and adopt a more accommodative policy stance in 2024, which will catalyze a substantial upswing in gold prices for the foreseeable future,” said the analysts.

Also, this:

“Since the great financial crisis, central banks have consistently increased their gold reserves, setting new records in both 2022 and 2023.”

And this – a scenario based on a crumbling USD:

“The USD is anticipated to continue its decline against the EUR and GBP in 2024, as the Federal Reserve is likely to commence a cycle of interest rate reductions. Moreover, the USD is gradually shedding some of its premium as the world’s reserve currency. Both these factors are expected to provide significant support for gold priced in USD.”

The firm also thinks silver is going to have an even better year, predicting a 48% return by year’s end.

And, along with its gold and silver price expectations, the firm thinks the mining sector will benefit. Take note, ASX goldie fans:

“Gold miners are historically undervalued relative to gold, a trend likely to reverse and overshoot during the forthcoming secular gold bull market.

“Gold miners are also historically undervalued compared to the S&P 500, presenting a unique and attractive entry point.”

Part of the reason the firm is bullish on good gold mining stocks broadly (but in particular smaller and mid-cap producers) is that it believes miners have reduced debt levels significantly over the past decade. Something that can’t be said for too many other sectors.

“Since 2021, companies in the commodity sector have sustained robust cash flows, with precious metal producers boasting the highest margins. Gold miners have become more shareholder-friendly and are more cautious with new costly projects.”

 

Winners & Losers

Here’s 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 Price % Week % Month % Year Market Cap
MRR Minrex Resources Ltd 0.014 -7% -18% -65% $15,188,145
NPM Newpeak Metals 0.019 -5% 6% -81% $1,899,083
ASO Aston Minerals Ltd 0.0195 -7% -25% -76% $25,901,285
MTC Metalstech Ltd 0.22 -2% 33% -50% $41,570,010
FFX Firefinch Ltd 0.2 0% 0% 0% $236,569,315
GED Golden Deeps 0.04 -9% -9% -60% $4,620,894
G88 Golden Mile Res Ltd 0.017 -6% -6% -32% $5,270,232
DCX Discovex Res Ltd 0.0015 -25% 0% -50% $4,953,852
NMR Native Mineral Res 0.014 -30% -42% -86% $3,356,008
AQX Alice Queen Ltd 0.006 0% 20% -82% $4,145,905
SLZ Sultan Resources Ltd 0.016 -6% -33% -82% $2,519,231
MKG Mako Gold 0.009 0% -5% -79% $5,961,685
KSN Kingston Resources 0.071 -10% -14% -35% $37,845,099
AMI Aurelia Metals Ltd 0.1025 -11% -2% -33% $168,976,740
PNX PNX Metals Limited 0.004 33% 0% 7% $21,522,499
GIB Gibb River Diamonds 0.031 3% 3% -50% $6,556,793
KCN Kingsgate Consolid. 1.215 -4% -9% -31% $315,745,823
TMX Terrain Minerals 0.0055 -8% 38% -21% $6,767,139
BNR Bulletin Res Ltd 0.105 -22% -13% 0% $29,361,332
NXM Nexus Minerals Ltd 0.044 -2% 0% -80% $17,118,646
SKY SKY Metals Ltd 0.037 3% -3% -26% $17,071,729
LM8 Lunnonmetalslimited 0.38 -32% -45% -60% $93,368,970
CST Castile Resources 0.064 -19% -26% -38% $15,481,755
YRL Yandal Resources 0.099 -36% 18% 0% $25,819,877
FAU First Au Ltd 0.003 0% 0% -25% $4,985,980
ARL Ardea Resources Ltd 0.42 -8% -20% -49% $84,717,273
GWR GWR Group Ltd 0.085 -6% 0% 37% $27,303,416
IVR Investigator Res Ltd 0.035 -3% -5% -22% $53,851,906
GTR Gti Energy Ltd 0.012 33% 50% -6% $24,599,365
IPT Impact Minerals 0.012 0% 33% 33% $34,376,447
BNZ Benzmining 0.2 -9% -23% -49% $23,407,855
MOH Moho Resources 0.01 -9% 11% -52% $5,359,412
BCM Brazilian Critical 0.025 9% 14% -77% $18,498,920
PUA Peak Minerals Ltd 0.003 0% 0% -40% $3,124,130
MRZ Mont Royal Resources 0.11 -15% -29% -39% $9,353,277
SMS Starmineralslimited 0.04 0% 14% -45% $3,036,912
MVL Marvel Gold Limited 0.011 0% 0% -58% $9,501,698
PRX Prodigy Gold NL 0.006 0% -14% -54% $10,506,647
AAU Antilles Gold Ltd 0.023 5% 10% -45% $18,884,459
CWX Carawine Resources 0.105 0% -13% -15% $24,793,172
RND Rand Mining Ltd 1.37 0% 4% -6% $77,920,067
CAZ Cazaly Resources 0.02 -26% -31% -43% $12,275,181
BMR Ballymore Resources 0.14 4% 4% -13% $24,686,282
DRE Dreadnought Resources Ltd 0.027 0% -13% -71% $97,414,043
ZNC Zenith Minerals Ltd 0.165 18% 10% -34% $58,142,846
REZ Resourc & En Grp Ltd 0.013 8% 0% 8% $6,497,475
LEX Lefroy Exploration 0.155 -11% -6% -35% $31,957,968
ERM Emmerson Resources 0.051 -4% -9% -41% $25,601,360
AM7 Arcadia Minerals 0.07 0% -10% -69% $7,633,507
ADT Adriatic Metals 3.345 -5% 4% 2% $825,587,172
AS1 Asara Resources Ltd 0.012 0% 9% -65% $9,512,771
CYL Catalyst Metals 0.695 -1% -19% -50% $149,707,130
CHN Chalice Mining Ltd 1.085 -17% -38% -84% $412,301,102
KAL Kalgoorliegoldmining 0.026 -10% 0% -69% $4,121,019
MLS Metals Australia 0.034 0% 0% -29% $22,465,303
ADN Andromeda Metals Ltd 0.026 13% 30% -58% $80,860,219
MEI Meteoric Resources 0.225 -12% 2% 257% $467,678,164
SRN Surefire Rescs NL 0.01 11% 11% -29% $17,668,420
SIH Sihayo Gold Limited 0.002 33% 33% 33% $24,408,512
WA8 Warriedarresourltd 0.059 20% 9% -61% $30,114,893
HMX Hammer Metals Ltd 0.041 -11% -16% -44% $37,229,109
WCN White Cliff Min Ltd 0.017 70% 70% 21% $20,429,749
AVM Advance Metals Ltd 0.036 0% -10% -85% $1,443,058
WRM White Rock Min Ltd 0.063 0% 0% -9% $17,508,200
ASR Asra Minerals Ltd 0.006 -14% -25% -68% $9,818,974
MCT Metalicity Limited 0.003 20% 50% 0% $13,455,161
AME Alto Metals Limited 0.036 -16% -14% -50% $26,696,357
CTO Citigold Corp Ltd 0.005 0% 0% 0% $14,368,295
TIE Tietto Minerals 0.605 -2% -4% -24% $683,583,723
SMI Santana Minerals Ltd 1.285 9% 44% 75% $231,180,960
M2R Miramar 0.027 8% 4% -64% $4,466,086
MHC Manhattan Corp Ltd 0.0045 29% 13% -36% $11,747,919
GRL Godolphin Resources 0.042 5% 11% -58% $7,108,165
SVG Savannah Goldfields 0.038 -14% -13% -78% $8,772,769
EMC Everest Metals Corp 0.08 -2% -1% -24% $12,572,799
GUL Gullewa Limited 0.055 0% 0% -8% $11,262,521
CY5 Cygnus Metals Ltd 0.1 -13% -17% -75% $29,155,914
G50 Gold50Limited 0.12 0% -4% -45% $13,114,800
ADV Ardiden Ltd 0.175 3% 9% -49% $10,940,564
AAR Astral Resources NL 0.067 -6% -9% -13% $53,137,535
VMC Venus Metals Cor Ltd 0.098 -2% -15% 16% $18,403,682
NAE New Age Exploration 0.005 0% -17% -38% $8,969,495
VKA Viking Mines Ltd 0.014 -7% 17% 75% $14,353,618
LCL LCL Resources Ltd 0.014 -13% -7% -68% $14,267,199
MTH Mithril Resources 0.002 0% 0% -50% $6,737,609
ADG Adelong Gold Limited 0.005 0% 0% -72% $3,498,278
RMX Red Mount Min Ltd 0.003 0% 0% -40% $8,020,728
PRS Prospech Limited 0.039 18% 26% 28% $11,886,544
TTM Titan Minerals 0.022 -12% -15% -72% $38,899,195
NML Navarre Minerals Ltd 0.019 0% 0% -53% $28,555,654
MZZ Matador Mining Ltd 0.035 0% -34% -73% $17,837,334
KZR Kalamazoo Resources 0.09 -33% -7% -58% $17,301,782
BCN Beacon Minerals 0.025 0% -4% -17% $93,919,204
MAU Magnetic Resources 0.88 1% -13% 10% $221,423,870
BC8 Black Cat Syndicate 0.225 -6% -18% -50% $65,309,549
EM2 Eagle Mountain 0.074 -3% 1% -66% $21,957,614
EMR Emerald Res NL 3.185 0% 11% 142% $2,036,856,251
BYH Bryah Resources Ltd 0.013 0% 4% -47% $5,636,894
HCH Hot Chili Ltd 0.98 0% 0% -4% $117,056,302
WAF West African Res Ltd 0.925 -4% -2% -27% $959,626,102
MEU Marmota Limited 0.044 7% -6% -4% $46,587,225
NVA Nova Minerals Ltd 0.33 3% -15% -50% $68,539,237
SVL Silver Mines Limited 0.1475 -8% -8% -28% $217,671,482
PGD Peregrine Gold 0.33 14% 40% -30% $21,438,874
ICL Iceni Gold 0.048 -26% -14% -63% $12,462,214
FG1 Flynngold 0.052 -12% 0% -46% $8,743,455
WWI West Wits Mining Ltd 0.011 -8% -15% -42% $29,164,700
RML Resolution Minerals 0.003 0% 0% -67% $3,779,990
AAJ Aruma Resources Ltd 0.025 -4% 0% -68% $5,316,071
AL8 Alderan Resource Ltd 0.005 0% 0% -44% $5,534,307
GMN Gold Mountain Ltd 0.004 -20% -20% -33% $9,076,314
MEG Megado Minerals Ltd 0.027 17% 8% -40% $6,870,300
HMG Hamelingoldlimited 0.078 4% 5% -42% $12,285,000
TBA Tombola Gold Ltd 0.026 0% 0% 0% $33,129,243
BM8 Battery Age Minerals 0.18 -12% 0% -64% $16,490,343
TBR Tribune Res Ltd 2.95 0% 5% -26% $153,731,466
FML Focus Minerals Ltd 0.18 6% 6% -3% $48,714,970
GSR Greenstone Resources 0.008 -11% 23% -72% $9,576,794
VRC Volt Resources Ltd 0.006 -14% -14% -57% $28,910,747
ARV Artemis Resources 0.016 -16% -16% -30% $30,441,531
HRN Horizon Gold Ltd 0.3 9% 0% -8% $43,451,977
CLA Celsius Resource Ltd 0.012 9% -14% -45% $26,952,620
QML Qmines Limited 0.075 -6% -3% -58% $15,819,454
RDN Raiden Resources Ltd 0.029 -19% -15% 511% $74,383,823
TCG Turaco Gold Limited 0.125 0% 4% 112% $76,336,000
KCC Kincora Copper 0.04 0% 18% -51% $7,950,602
GBZ GBM Rsources Ltd 0.008 0% -27% -83% $5,851,463
DTM Dart Mining NL 0.016 0% 0% -74% $3,413,694
MKR Manuka Resources. 0.07 -3% -20% -24% $39,558,404
AUC Ausgold Limited 0.027 4% -13% -53% $59,699,671
ANX Anax Metals Ltd 0.024 -11% -14% -65% $11,604,423
EMU EMU NL 0.001 0% 0% -82% $2,024,771
SFM Santa Fe Minerals 0.043 0% 0% -41% $3,131,208
SSR SSR Mining Inc. 15.06 -1% -6% -39% $97,244,006
PNR Pantoro Limited 0.045 -6% -12% -59% $234,181,373
CMM Capricorn Metals 4.37 -4% -4% -6% $1,622,476,052
X64 Ten Sixty Four Ltd 0.57 0% 0% -14% $130,184,182
SI6 SI6 Metals Limited 0.005 0% 0% -17% $9,969,297
HAW Hawthorn Resources 0.098 -2% -1% -11% $32,831,530
BGD Bartongoldholdings 0.24 -4% -2% -11% $46,928,939
SVY Stavely Minerals Ltd 0.044 0% -6% -82% $16,805,364
AGC AGC Ltd 0.07 3% 9% 8% $14,444,444
RGL Riversgold 0.01 -20% -17% -67% $10,644,276
TSO Tesoro Gold Ltd 0.027 -4% -7% -25% $31,969,098
GUE Global Uranium 0.165 27% 57% 0% $33,953,436
CPM Coopermetalslimited 0.295 -14%