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Gold continues to look fantastic says Shaw and Partners' Davide Bosio

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.

Quick facts: Newcrest Mining Limited

Price: 30.71 AUD

ASX:NCM
Market: ASX
Market Cap: $25.08 billion
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