Gold stocks have been rather interesting assets to watch in the market recently. Inflation fears and growing pandemic cases because of the delta variant have created a lot of volatility with gold. No matter what type of trader you are, there is always a lot of opportunities to make a profit in the gold market because of its distinct role in the economy.
Gold has solidified its position in the financial world is one of the oldest forms of currency. For this reason, the gold market brings in a variety of different investors. There are many ways to invest in the metal, such as with physical gold, options, futures, and equities. But today, we are going to focus solely on gold stocks.
You’ve seen how news can impact the price of gold stocks in the past. This was especially relevant in 2020, which was a year of more news than ever. The pandemic caused mining resources to boost to levels never seen before. For example, the price of gold went up above $2,000 which was a record high for the yellow metal. So keeping up with world news, company news, and sector news all can help when investing in gold stocks.Top Gold Stocks To WatchYamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a gold stock that increased in the market today. This is a producer of precious metals that will actively explore for and produce gold and silver ores. It holds interest in the Cerro Moro Mine, Malartic mine, Minera Florida mine, and others. Its mines are located in Canada, Chile, Brazil, and Argentina.
Yamana Gold reported positive exploration results at its producing mines on September 6th. The company’s new zones and targets had the potential to significantly expand its mineral resource base and increase mine life at all operations. Two days after this announcement on the 8th, AUY stock increased in the market. Its stock price is now at $4.32 per share on average. Keeping this in mind, will AUY enter your gold stock watchlist before next week?Newmont Corporation (NYSE: NEM)
Newmont Corporation is a mining stock that produces and explores for silver, gold, copper, zinc, and lead. Newmont’s property is all in the United States, Mexico, Canada, Peru, and a few other countries. It had proven and probable gold reserves as of December 31st 2020 that totaled 94.2 million ounces. Newmont Corporation has more than 58,900 square km of land.
Back in July, the company released its second quarter results for the year. The company’s President and CEO Tom Palmer said, “Capitalizing on the strength of our assets and integrated operating model, Newmont delivered a solid second quarter performance with $1.6 billion in adjusted EBITDA and $578 million in free cash flow. Our performance and disciplined approach to capital allocation allowed Newmont to declare a second quarter dividend of $0.55 per share, whilst we continue to reinvest in our business through our most profitable projects.” Will NEM make your list of mining stocks to watch this week?AngloGold Ashanti Limited (NYSE: AU)
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. This includes the Americas, South Africa, Continental Africa, and Australia.
The company entered a non-binding letter of intent regarding three gold projects with Latin Metals. These projects are located in Salta Province, Argentina.
The President and CEO Keith Henderson 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.” Will AU enter your list of gold stocks to watch?Top Gold Stocks To Buy?
Investing in gold stocks can be a tricky road sometimes. It is important to stay up to date as to what is happening in the market. For now, which gold stocks will make your watchlist?