The pandemic and economic situation of the last year and a half has had an interesting effect on gold stocks. Many gold stocks rose to new record highs last year as gold prices increased with the crash of the economy. Now in 2021, things are much different. Metals are trending lower at the moment as the dollar grows stronger. While gold may be going down in price, the metal still holds a strong position in the market.
Last Friday, both of the metals reached four-week highs. Analysts believe that the pullback gold is experiencing right now is regular after these solid gains. There is a lot of uncertainty in the world right now when it comes to the economy. Just when it felt like things were getting better, COVID-19 cases began to rise again due to the delta variant of the virus. At the same time, there are many people that are still unvaccinated at the moment.
If you want to invest in gold stocks, there are a few precautionary steps you can take. Looking at the latest world news such as things related to the pandemic can be extremely useful when buying gold stocks. Looking at news in the sector, such as shortages and surplus can be helpful as well. Company-specific news is always really important when picking a gold stock to buy. Let’s take a look at three companies that are performing well in the market right now.Top Gold Stocks To Watch
- AngloGold Ashanti Limited (NYSE: AU)
- Eldorado Gold Corporation (NYSE: EGO)
- Royal Gold Inc. (NYSE: RGLD)
AngloGold Ashanti is a gold mining company that produces gold, silver, uranium, and sulpheric acid. It currently operates 14 mines and three projects, located in nine countries around the world.
On September 2nd, AngloGold and Latin Metals entered a non-binding letter of intent regarding three gold exploration projects. These projects are the Organullo, Ana Maria, and Trigal Gold Projects. The letter of intent provides a 90 day period to negotiate and enter an agreement if deemed advisable. Then AngloGold would be granted the option to acquire up to an 80% interest in the projects.
Keith Henderson, CEO of AngloGold Ashanti said, “Securing joint venture partners is a key part of Latin Metals’ prospect generator operating model and we are pleased to have entered into the LOI with AngloGold, as a potential partner for our projects in Salta province.” Keeping this new information in mind, will AU stock enter your watchlist in September 2021?Eldorado Gold Corporation (NYSE: EGO)
Eldorado Gold Corporation is a mining-based company that discovers and acquires land, explores it, develops it, and then produces and sells precious metals. Eldorado’s products include but are not limited to gold, silver, zinc, lead, and iron ores as well. Its current operations are the Kisladag and Efemcukuru mines.
On August 9th, the company announced the sale of its Tocantinzinho Project located in Brazil to G Mining Ventures Corp. This sale has a minimum upfront consideration of $50 million, comprised of $20 million in cash and 19.9% of GMIN shares upon closing of the transaction.
George Burns, President and CEO of Eldorado said, “This transaction provides Eldorado with immediate value for TZ, while also retaining meaningful exposure to future value creation through our equity stake in GMIN.” Considering all of this news, will EGO enter your list of gold stocks to watch this month?Royal Gold Inc. (NYSE: RGLD)
Royal Gold is a gold corporation that acquires and manages royalties and metal streams. The company does this for stream or royalty interests. Its minerals mined for are gold, silver, copper, zinc, nickel, lead, and cobalt. Currently, the company has 189 sites with 41 mines and 17 developmental projects.
On September 13th, Royal Gold will be presenting at the Gold Forum Americas 2021. The company’s President and CEO, Bill Heissenbuttel will participate virtually in a fireside chat on this date. This announcement was made on Tuesday, September 7th. It will be interesting to see what the company’s CEO has to say in this presentation and how it will affect RGLD stock price. Will RGLD stock enter your watchlist in 2021?Top Gold Stocks To Buy?
Now that we have made it through this gold stock watchlist, have you found one of these companies interesting? There are plenty of gold stocks to choose from when you are forming your watchlist. It will be interesting to watch how the market for these mining stocks progresses in 2021. For now, which gold stocks are on your list?