Are We Heading into a Golden Age?
ASX gold companies have tripled in value, now outranking household names as investors seek the ultimate hedge.
Excluding Newcrest Mining, taken over by Newmont Corporation in 2023, the market capitalisation of Newmont has increased from $70bn to $165bn.
- Nine gold companies on the ASX now have 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.
This rapid rise is driving the growth of ASX gold companies.
Author's summary: Gold companies are booming.