RE: New Short20 Jan 2022 21:04
As of this writing, shares in Australia’s largest listed gold mining company are trading at $ 25.47, up 6.3%. on the other hand, S & P / ASX200 Index (ASX: XJO) has fallen 0.05% in the afternoon trading.
What is the stock price of New Crest today?
New Crest’s share price has reached its highest day since it rose 6.7% in May 2020. But the $ 19 billion gold mine giant is moving today without new announcements.
Take a step back Gold sector, You can see that New Crest is not the only fun performance. For reference, here’s how other gold miners are doing:
This information suggests that the reason behind the New Crest movement is due to the catalyst of the entire sector. What is driving the momentum today may be the rise in spot gold prices overnight.
Gold rose 1.7% to 1 ounce US $ 1,842.9, according to CNBC. The upward movement puts the precious metal at a height of 2 months. Second, New Crest’s stock is benefiting from it.
The reason for gold price fluctuations can be doubled.
First, the latest reports show that safe assets have found new appeal in the geopolitical tensions between Russia and Ukraine.White House spokesman Jen Psaki said Russia Conflict Anytime — Probably between January and February.
At the same time, as the likelihood of rate hikes increases, investors are rotating to investments that are perceived as inflation hedges.
Bloomberg Economics Is forecasting the first rate hike in the United States in March. in the meantime, Westpac Banking Corp (ASX: WBC) The reserve bank Rate hike in August..
When will the quarterly results come?
Market attention is increasing at this time of the year. The earnings season is approaching, and some companies have already announced quarterly results.
New Crest’s December quarterly financial results will be released on January 28th. It’s quite possible that shareholders will be at the edge of the table at this event, hoping that New Crest’s share price will react positively to the update.
Newcrest (ASX: NCM) shares regain some brilliance as inflation concerns grow
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