Are We Heading into a Golden Age?
ASX gold companies have tripled in value, surpassing household names as investors seek the ultimate hedge.
Excluding Newcrest Mining, which was acquired by Newmont Corporation in 2023, the market capitalization of gold companies has increased significantly. Newmont Corporation's market capitalization has grown from $70bn to $165bn.
- Nine gold companies are now listed on the ASX with a market capitalization of over $5bn, up from two in 2023.
- These companies have surpassed household names like Treasury Wines, Bank of Queensland, and Ansell in market capitalization.
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.
This rapid rise is driving the growth of gold companies.
Author's summary: Gold companies triple in value, driven by rising gold prices.