Are We Heading into a Golden Age?
ASX gold companies have tripled in value, now outranking household names as investors rush to the ultimate hedge.
This development excludes Newcrest Mining, previously Australia's largest listed gold company, taken over by Newmont Corporation in late 2023. Newmont's market capitalization increased from $70bn to $165bn during this period.
- Nine gold companies are now listed on the ASX with a market capitalization of over $5bn, up from two at the end of 2023.
- These companies, many not household names, have a market capitalization exceeding that of companies like Penfolds owner Treasury Wines, Bank of Queensland, and Ansell.
The rapid rise in gold price drives this trend, with a gain of US$1000 (32%) in less than 2 months and US$2,500 (141%) in the last two years.
The move in the gold price has been extraordinary.
Author's summary: Gold companies triple in value on ASX.
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