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New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

New Found Gold Corp. is a Canada-based mineral exploration company engaged in the acquisition, exploration and evaluation of resource properties with a focus on gold properties located in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Project, which comprises a approximately 1,662 square kilometers area, located about 15 kilometers (km) west of Gander, Newfoundland and Labrador, and just 18 km from Gander International Airport. The Queensway Project is divided by Gander Lake into Queensway North and Queensway South. The Company is undertaking a 500,000-meter drill program at Queensway.


TSXV:NFG - Post by User

Post by seashark00on Aug 13, 2022 2:46pm
167 Views
Post# 34894186

Gold

Gold
Gold data from technical analyst Larry Williams and the Gold Continuous Contract Futures (GCCF) chart He believes in holding at least some gold. Hold it as a hedge. But gold is flat for the year and hasn't been acting as a hedge against inflation. Since March, prices have been hammered. An ugly downturn. But don't give up on gold. William's data shows that when small gold speculators get too bullish, then gold prices are near the top. But when they get bearish, gold is bottoming. The latest data says that small specs are net long 92,690 contracts for gold, their smallest long position since May 2019, before gold got a major boost. Last March in gold's most recent peak, those contracts were long 290,000--their largest net long position in 4 years. They are on the wrong side of the trade. Williams says do the exact opposite of those small speculators. In the last 9 years whenever the net long gold position has been this low, the actual metal has rallied. The best selling positions happened when those speculators had large long positions. Gold has been undervalued because the USD has been so. Gold vs. oil: gold responds to the price of oil more than any other inflationary indicator, including the CPI. Now is the time to buy gold, because gold is ready to rally.
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