ASX gold finds a bottom

The AUD is climbing this through the day:

Bonds are soft at the long end:

XJO is stalled:

Big Iron is up:

Big Gas too:

Big Gold is sniffing out a bottom:

And why not:

Big Banks are soft:

Big Tech is still trending lower:

Not a lot of factor rotation apparent today.

David Llewellyn-Smith
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Comments

  1. Having initially purchased my medical cbd stocks at sort of the wrong time I held through the the downturn and on 2/3 I judiciously topped up this year while they we’re absolutely hated. I’m now up about 30% on combined holdings. I’m up over 150% on my rare earth stock where I did the same (and I expect further medium term gains based on recent Chinese actions). Thailand took marijuana of the narcotics list recently, plus with several other recent changes to legal status around the world and many companies have finished a lot of their capital investment phase so as an industry the well run companies should be starting to record profits soonish.

      • I’m pretty certain they will it’s just a case of having patience. They’ve had a really good run this year and last but nothing goes up in a straight line. Several of my gold stocks have gone up recently, and some could be bottoming. If they stay low for a whilelonger I’ll be happy, there’s still a little more topping up is like to do but I don’t have the cash right now (the perils of being a low income investor)

        Boy my cbd stocks popped today based on the U.N. reclassifying marijuana to the lowest level of narcotic. So dollar cost averaging down worked for me in this instance. I’m now up over 100% on cph when i was down 90% earlier this year. This investing thing isn’t easy but it’s nice to finally be getting a few wins after years of real and paper losses. At least investing by yourself you can be patient if you have that trait.