JID did a great presentation sometime back on NST-RRL correlation. Gold stocks have been so incredibly hammered that so much with gold stocks depends on sector performance.
There is still so much going for gold even in the short term. with the short term uncertainty and other events - Swiss currency issue fallout, ECB QE, Fed meeting, Chinese new year next month, Russian gas redirection, US stocks markets weakening, currency wars starting to heat up, etc.
If gold continues to rise, money has to eventually pile into RRL too. I think the chart JID showed of the past trend and correlation with NST should continue. RRL is still one of the safest gold stocks on the ASX and most issues are due to a once in a century disaster, and temporary issues which will surely be resolved. Large investors know this very well and distributing funds between NST and RRL is one of the safest ways to diversify with ASX goldies.
IMO.
Video Chart Update - RRL, page-3
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Last
$2.53 |
Change
0.010(0.40%) |
Mkt cap ! $1.473B | |||
| Open | High | Low | Value | Volume |
| $2.54 | $2.57 | $2.51 | $1.096M | 431.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 14847 | $2.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.53 | 12363 | 18 |
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| Last trade - 12.40pm 04/12/2024 (20 minute delay) ? |
| RRL (ASX) Chart |
