Despite a rally the last few days, the S&P/ASX 200 Index (ASX: XJO) has lost 3.6% since mid-August.
In such turbulent times, an old investing axiom says gold can be a safe haven.
Whether that’s wise or not is up for debate, as some experts dislike how unproductive gold is as an asset.
But if you decide the precious metal is right for you, there are many ASX shares that can give you exposure.
Fortunately for you, The Motley Fool has dug up a couple of expert “buy” recommendations for you to consider.
Big risk for big reward in Africa
Shares for gold miner Turaco Gold Ltd (ASX: TCG) have doubled since May.
Argonaut associate dealer Harrison Massey is a fan of the business which operates gold projects in the West African country of Cote d’Ivoire.
“The company is progressing its 9000-metre air core drilling program, testing 3 kilometres of northern and southern strike extensions at Nyangboue,” he told The Bull.
“The company is led by an experienced mining team.”
As Turaco is in an exploratory stage, Massey acknowledges the risk involved in these shares.
If the company hits gold, shareholders will be bathing in returns. If it doesn’t and goes broke, then the stock could go to zero.
“Recently, the shares have been enjoying favourable momentum, rising from 9.8 cents on September 30 to close at 15 cents on October 14,” he said.
“Explorers carry risk but any encouraging results should paint a brighter outlook.”
Turaco shares were trading for 14 cents on Monday morning.
Digging for gold in Western Australia
Closer to home, Calidus Resources Ltd (ASX: CAI) is in a more mature stage than Turaco.
TradeDirect365 technical consultant Braden Gardiner rates it as a “buy” while the business is building the “Warrawoona” mine in the east Pilbara of Western Australia.
“It has regulatory approvals and finance. The company is on schedule to produce gold in the June quarter of 2022.”
Calidus shares were trading for 60 cents on Monday morning, which is more than 38% up in the past 6 months.
“Buyers supporting higher price levels provide an encouraging outlook,” Gardiner said.
“We expect positive momentum to drive the price through 75 cents.”
The post 2 gold ASX shares experts are loving right now appeared first on The Motley Fool Australia.
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More reading
- ASX 200 (ASX:XJO) midday update: Aristocrat’s $5bn acquisition, Zip falls on Q1 update
- 5 things to watch on the ASX 200 on Monday
- These were the best performing ASX 200 shares last week
- These were the worst performing ASX 200 shares last week
- Here are the top 10 ASX shares today
Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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