Shaw and Partners WA state manager Davide Bosio says gold continues to look fantastic on a technical basis. Political environment, tensions between US/China and the world a long way from a coronavirus vaccine play into the metal’s hands, he says, and investors are really getting behind both it and silver. Newcrest’s strong results highlight the benefits of being a producer currently, he adds, but don’t expect a splurge of acquisitions. Companies with tier-1 and possible tier-2 assets might see some activity but Newcrest was rewarded for focusing on production and cost control and that’s what the market likes now says Bosio.
Gold continues to look fantastic says Shaw and Partners' Davide Bosio
Quick facts: Newcrest Mining Limited
Price: 30.71 AUD
Market Cap: $25.08 billion
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