- The ASX 200 inched marginally higher on Thursday
- Energy stocks struggled while gold miners sparkled
- Robert Kiyosaki tips a good year ahead for gold stocks
The ASX 200 closed Thursday flattish despite opening higher at the morning bell.
Energy stocks once again dragged the bourse lower as oil prices retreated 5% overnight on concerns that China might be facing a long winter battling Covid.
Woodside Energy (ASX:WDS), which fell 2% yesterday, tumbled another 2% today as traders shunned oil producers.
“Despite this, the medium-term prospects still appear quite bullish, especially if China can bounce back strongly later this year and fully transition to living with Covid, like much of the rest of the world,” said OANDA analyst, Craig Erlam.
“Of course, Russia remains the wildcard in all of this, both in terms of its output and influence within OPEC+.”
Core Lithium (ASX:CXO) meanwhile jumped 4% after reporting its first shipment to China.
The first shipment of 15,000dmt of 1.4% Li2O DSO from the company’s Finnis Mine in the NT was successfully tendered using a digital exchange platform achieving a price of US$951/dmt.
Once loading is complete, the Rossana ship will depart Darwin for Fangcheng, China.
Gold stocks also rose today, defying the minutes from the US Fed overnight where policymakers had resolved to fighting inflation and keeping rates on an upward trajectory.
Not only is gold rallying, but it’s also building momentum, something the yellow metal was lacking towards the end of December.
Robert Kiyosaki, of Rich Dad Poor Dad fame, has predicted the price of gold will soar to US$3,800 (currently US$1,856) this year, while silver will hit US$75 (currently US$23.75).
Kiyosaki also expects stocks, bonds, and the real estate market to crash this year as the Fed continues to hike rates.
Meanwhile, Graincorp (ASX:GNC) slipped 2% after the company told the AFR that rail and road bottlenecks are holding back its exports to China.
Looking ahead to tonight’s session on Wall Street, the US will release its exports/imports data as well as the week’s jobless claims.
BIG CAP WINNERS
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| Security | Description | Last | % | Volume | MktCap |
| BGL | Bellevue Gold Ltd | 1.26 | 8.37 | 5,945,853 | $1,286,940,797 |
| PNI | Pinnacle Investment | 9.95 | 7.63 | 398,745 | $1,859,679,877 |
| DEG | De Grey Mining | 1.50 | 6.76 | 8,175,773 | $2,193,439,516 |
| PNV | Polynovo Limited | 2.15 | 6.44 | 1,890,071 | $1,389,767,682 |
| SLR | Silver Lake Resource | 1.33 | 6.40 | 5,124,942 | $1,162,180,416 |
| CXO | Core Lithium | 1.10 | 6.31 | 15,653,868 | $1,902,291,058 |
| LTR | Liontown Resources | 1.32 | 5.18 | 12,067,359 | $2,756,526,364 |
| CHN | Chalice Mining Ltd | 6.67 | 5.04 | 1,461,611 | $2,390,439,682 |
| PTM | Platinum Asset | 1.89 | 4.56 | 1,371,389 | $1,061,888,809 |
| CNI | Centuria Capital | 1.77 | 4.44 | 580,900 | $1,345,912,588 |
| CUV | Clinuvel Pharmaceut. | 23.58 | 4.01 | 179,942 | $1,120,132,362 |
Bellevue Gold (ASX:BGL) rose 10% and Newcrest Mining (ASX:NCM) was up 3% on gold sentiment.
BIG CAP LOSERS
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| Security | Description | Last | % | Volume | MktCap |
| BRN | Brainchip Ltd | 0.78 | -6.63 | 15,489,006 | $1,433,295,580 |
| KAR | Karoon Energy Ltd | 2.07 | -5.48 | 1,909,041 | $1,232,276,550 |
| HGH | Heartland Group | 1.67 | -3.76 | 10,000 | $1,220,206,001 |
| BPT | Beach Energy Limited | 1.54 | -2.69 | 6,097,732 | $3,604,507,176 |
| CGC | Costa Group | 2.73 | -2.68 | 249,595 | $1,300,730,105 |
| CPU | Computershare Ltd | 25.64 | -2.66 | 850,647 | $15,902,230,710 |
| IPL | Incitec Pivot | 3.59 | -2.58 | 7,398,066 | $7,147,388,107 |
| WDS | Woodside Energy | 33.77 | -2.12 | 5,058,348 | $65,506,867,100 |
| WHC | Whitehaven Coal | 8.94 | -1.97 | 8,271,147 | $8,226,215,020 |
| BXB | Brambles Limited | 11.72 | -1.97 | 1,195,309 | $16,595,705,565 |
| AGL | AGL Energy Limited. | 8.04 | -1.95 | 1,443,125 | $5,516,527,311 |
| WTC | Wisetech Global Ltd | 49.80 | -1.85 | 169,010 | $16,593,699,173 |
| MCY | Mercury NZ Limited | 5.15 | -1.72 | 4,656 | $7,262,681,721 |
| ING | Inghams Group | 2.89 | -1.54 | 631,306 | $1,089,021,231 |
| PWH | Pwr Holdings Limited | 11.10 | -1.51 | 57,369 | $1,131,286,432 |
| IFT | Infratil Limited | 8.00 | -1.42 | 9,600 | $5,875,126,768 |