Are We Heading into a Golden Age?
ASX gold companies have tripled in value, outranking household names as investors rush to the ultimate hedge.
Excluding Newcrest Mining, which was taken over by Newmont Corporation in late 2023, the market capitalisation of Newmont has increased from $70bn to $165bn.
- Nine gold companies are now listed on the ASX with a market capitalisation of over $5bn, up from two at the end of 2023.
- These companies have a market capitalisation exceeding that of companies like Treasury Wines, Bank of Queensland, and Ansell.
The move in the gold price has been extraordinary, gaining US$1000 (32%) in less than 2 months and US$2,500 (141%) in the last two years.
This rapid rise is a function of the rapidly rising gold price.
Author's summary: Gold companies triple in value.