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The View From The Montana Log-Cabin As Gold Sets More Records

By Nigel Somerville | Sunday 2 February 2025


Disclosure: I own shares in one or more of the stocks mentioned. 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.


Gold closed the week at $2,799 – a new daily, weekly and monthly all-time high, having posted another all-time intra-day high of $2,817. Up on last week’s $2,770, the question now is will it push on to leave $2,800 behind and my view is yes. Gold stocks also had a good week, as can be seen on the chart below of Gold against the mining ETFs GDX (majors), GDXJ (juniors) and GOEX (explorers), although they remain below their highs recorded in the autumn: there’s plenty of upside left.
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