Baldinvestor.com

Insights into behavioral investing on the Australian share market

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Gold price flying - time for caution?

Baldinvestor has long been bullish on gold, since most people had no interest at all. Long term we are still bullish, but recent activity causes us to recommend caution. Gold has recently reached almost 10 year highs and there is much more attention now from the mainstream. Gold miners have been bid up indiscriminately and it makes us pause from further activity to let things cool down a little.

Gold prices look set to breach the $1800 dollar level and silver is following closely. We expect all time highs of around USD$1900 to be taken out in the not too distant future. Probably the 2000 level will be when more retail investors start to pile in. We do not see as much risk in the big established miners, but many of these smaller ones and explorers may find they do not even have a resource.

Aside from gold , we are still relatively positive some of the emerging markets, especially ASIA. These markets are in a much better position now than developed markets and the future looks more promising. Arguably they are much cheaper compared to developed markets than they have ever been. We are still very wary of developed market shares, but long term, now may be a reasonable time to gain exposure to ASIA. We have recommended a fund on our website previously, which is mainly exposed to ASEAN shares, which we are positive on. It is still at a discount to NAV. To find out what it is go to the website and register. 2020-07-02
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