Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Randgold Resources offers a good defensive play

By Gary Newman

14 January 2016 04:00

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With the markets in turmoil it makes sense to have at least something more defensive in your portfolio. Gold has historically always been good in this type of situation, and whilst I’m nowhere near as bullish as some are about where the gold price is going longer term, it should at least offer some protection over the coming months.

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Comments

Duck and Dive

14 January 2016, 04:15

Good points, Gary. I would add that sentiment will get a lift from today’s declaration by the WHO that Ebola has finally been eradicated in West Africa.
wildrides

14 January 2016, 05:43

I presume it was the shear volume from the speakers that did it …….. they must be all deaf as posts by now.
Gary Newman

14 January 2016, 10:58

Duck and Dive,
Definitely seems to be one of the companies that have done things the right way – there were some that were booking reserves for every bit of gold they could possibly extract when gold prices were at their peak, whereas Randgold seemed to have taken a far more sensible approach. They also seem to have been good at maintaining those reserves as well. As you’re aware it probably isn’t one that people are going to make their fortune on, but i think it offers a good chance of a decent return at a time when the markets are very hard work. I hadn’t spotted the WHO announcement so thanks for pointing that out as well.

Wildrides,
Too me a minute there to realise what you were on about :)