Only one of the FM’s commentators got it spot on for 2025:
Afrifocus Securities senior analyst and investment veteran Des Mayers, who has been in the markets for about 60 years.
Mayers punted Goldfields, DRDGold and Pan Africa Resources, and threw poultry stocks Astral foods and Rainbow Chicken into the mix. Any readers who followed this old hand’s picks would have been rewarded with a 144% annual gain.
Mayers suspects there’s more to life in the gold market, even though much of the elevated bullion price is already priced in for the gold miners. He warns though, that the intervening period could test investors’ nerves.
There was a great bull market in gold in the 1970s. But gold slumped to $40, when (then US president Richard Nixon) closed the gold window. By 1974 the gold price was at $195, but in the next 20 months it drifted back down to $104. Gold shares in that pullback fell something like 70%… by January 1980 gold had soared to $850, and gold share went through the roof.
Mayers says circumstances today are not the same, but any pullbacks might be worrying. “I have taken some gold profits off the table.”
The last word must go out to Mayers, after his stellar 2025 picks.
