Post by
MaterialsMan on Sep 20, 2024 7:11pm
Astonishing numbers
I was a little taken aback when I started doing a few calculations. All in U.S.
Gold per oz. is up $ 800.00 in the past year. That's 45%.
If Florian Grummes is correct and gold hits 3k by the end of the year (he's already 15% of the way there in one week), gold will have gone up $1200.00 in 15 months. That's 65%.
I would think that these kind of prices would positively affect the bottom line of every gold producer worth its salt.
That should attract some interest from investors in general. But, that may depend on whether the major indexes continue to also hit new highs consistently.
I don't think there is any doubt that Westgold's earnings will be affected in a big way in the upcoming financial reports.
This feels like the best time in a long time to be heavy and long in gold stocks. And the price of WGX remains very attractive, especialy in light of the significant increases in the SPs of major producers.