Newmont was the first gold producer to post Q3 earnings. They blew out all of the estimates. EPS more than double last year.
I guess one could argue the price has already risen enough to cover that doubling of EPS. AVG Gold price was just over $3,500 so next Q will be even more. Will be interesting to see what happens to all of the next miners now that Newmont confirmed the AVG price.
The amount of debt these guys paid off in this year is wild too. assuming other co’s will step up thier buy backs and dividends which are mostly small now as a %.
The 2 really bad days this past week still didnt wipe out the last 4 weeks of gains so we’ll see what comes next. I’m not in Newmont.
I’d love to pour over a WSB thread on this but they dont seem to care?
Bro I was a multi decade holder of Nokia stock. Mostly kept it for the nostalgia and small divy. I finally sold it this year… only to miss the pump on NVIDIA partnership news, lol.
yes it is but i’m now completely sympathetic to the notion that the US (and every other nation) now benefits from the repricing of their gold holdings to a much much much higher price to beef up the asset value (denominator) of thier balance sheets to make thier debt (numerator) seem increasingly irrelevant.
It’s said the US balance sheet has their gold pegged at $42 USD, meaning 1/100 the current market price. Stands to reason that $8,000 gold is in the interest of the US govt, and every other govt holding gold and then the same for $10,000 gold and so on…
We’ll see.
The Tether narrative is also insane… They are using crypto and stablecoins to convert all individuals in India, Indonesia etc. etc. into prospective, indirect micro-holders of USDT which are then used by Tether to buy US treasuries, Gold and BTC with the yield that is not passed on to the users.
