Gold equities

This is the time for gold equities to shine, according to Bank of America Merrill Lynch. Notes the price of gold has surged to an all-time high over $1600/oz, but gold equities, particularly in Europe, have underperformed. Says with gold stocks trading near historical lows on a range of valuation metrics, “there is compelling scope for a ‘catch up’ trade.” Has buy ratings on Randgold (RRS.LN), Centamin (CEE.T), Petropavlovsk (POG.LN), African Barrick (ABG.LN), and European Goldfields (EGU.T).

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