Gold is shining in Oz

The gold price in Australian dollars has climbed to a new record above $1,800 an ounce as the Australian dollar has declined in foreign-exchange markets.

950_COTW-gold-AUD

Investors seeking promising gold miners should look Down Under, says Markus Bussler in German business weekly Der Aktionr. Unlike their North American counterparts, local producers didn't binge on acquisitions at the peak of the gold bull market in 2010 and 2011, so their balance sheets are virtually debt-free, helping them take over peers in North America now.

The gold price expressed in Australian dollars has climbed to a new record peak above $1,800 an ounce as the Australian dollar has declined in foreign-exchange markets. Australian producers make their sales in the local currency, while operating costs are around $1,200 an ounce, so margins are healthy. Northern Star and Saracen Mineral are worth researching.

Viewpoint

Barry Ritholtz, Ritholtz.com

Most Popular

Why it might be better to delay saving for your retirement
Pensions

Why it might be better to delay saving for your retirement

We are advised to put aside as much as we can as early as possible. But is that always sensible?
8 Jun 2021
How inflation shrinks your savings, and what to do about it
Savings

How inflation shrinks your savings, and what to do about it

It’s getting harder and harder to grow your money in real terms. Alex Rankine looks at the best savings accounts currently on offer.
7 Jun 2021
We shouldn’t let digital currencies kill off cash – here’s why
Bitcoin & crypto

We shouldn’t let digital currencies kill off cash – here’s why

Central banks are keen on implementing their own digital currencies. But the end of physical cash could give governments total control over how you sp…
8 Jun 2021