Are We Heading into a Golden Age?
ASX gold companies have tripled in value, outranking household names as investors seek the ultimate hedge.
Excluding Newcrest Mining, taken over by Newmont Corporation in 2023, the market capitalisation of gold companies has increased significantly. Newmont Corporation's market capitalisation has grown from $70bn to $165bn.
- Nine gold companies are now listed on the ASX with a market capitalisation of over $5bn, up from two in 2023.
- These companies surpass household names like Treasury Wines, Bank of Queensland, and Ansell in market capitalisation.
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.
Author's summary: Gold companies triple in value.