Trending gold stocks are attracting attention, what’s the deal?
Gold stocks saw a massive price gain in 2020, as we all know. When the pandemic was wreaking havoc on the economy in March, the metal fell short. Then, a month later, gold stocks had a massive surge. As a result, gold prices soared to fresh all-time highs in the market last year. So, what is the current state of gold-stock prices? As the world has begun to recover, gold stocks have taken a fall. At the same time, the market value of several gold stocks is expected to rise in 2021.
Many gold stocks have hit fresh all-time highs in the last year. Because the economy was in such bad shape, the focus switched to gold. In 2021, the economy is still in a terrible state. There are a few measures you can take to become more familiar with this sector if you are new to investing in it.
Checking gold prices on a daily basis will assist you in investing because you will be aware of market conditions. When looking for gold stocks to watch this year, looking at charts to try to see trends can be beneficial. Gold-related news, such as shortages, can also be highly valuable. However, sector-related factors are not the sole factor that influences gold prices. The direction in which gold stocks are moving is frequently influenced by world news. Of course, the pandemic, reopening, and vaccines are the most recent examples of this. With that in mind, let’s take a look at three gold stocks that are gaining traction this week.
Top Gold Stocks To Watch
Barrick Gold Corporation (NYSE: GOLD)
Barrick Gold Corporation is a gold and copper exploration, mining, development, production, and sales corporation. At the end of 2019, the firm owned and operated gold mines in 12 different countries, with 71 million ounces of proven and probable gold and copper reserves. Barrick Gold is currently one of the world’s largest active gold producers.
On October 18th, the company announced that it has set up a community development fund for its Veladero mine. The fund will be financed by 1.5% of the Veladero gold mine’s sales, estimated to be about $138 million. This will be for the duration of the mine which is currently expected to extend past 2030.
The CEO of the company, Mark Bristow said, “We’re working to extend Veladero’s life beyond its current horizon and a new 10-year production plan is already in place. Following the recent completion of the mine’s Phase 6 heap leach facility, construction of Phase 7 will start soon, with an investment in the range of $140 million.” On October 20th, GOLD stock is up 1.26% in the market. Will you be adding Barrick stock to your watchlist right now?
IAMGOLD Corporation (NYSE: IAG)
IAMGOLD Corporation is a gold stock that has been performing well in the market recently. The company has a higher volume than its market average at the moment. This firm seeks out, develops, and operates gold mining assets. The Americas and West Africa are home to these mining assets. It currently has stakes in the Rosebel, Essakane, and Westwood mines, among others.
The corporation released its preliminary operating results for the third quarter of 2021 on October 19th. During this time, all of the company’s mines produced excellent results. The company’s Essakane mine produced the same amount of ore as the previous quarter, with an average recovery of 83 percent at 3.3 million tons. During this time, the Rosebel mine also provided positive results.
Gordon Stothart, the President, and CEO of IAMGOLD said, “We achieved attributable production of 153,000 ounces during the third quarter and are pleased that our total attributable production is trending towards the upper end of the guidance range. Essakane continues to deliver strong results and Rosebel is performing in line with the updated plan. Production at Westwood was lower than plan, although underground mine productivity is improving while we continue to prioritize implementing safety measures as part of the business recovery plan.” Now IAG stock is up 2.87% in the market on October 19th. So will IAG be on your list of gold stocks to watch?
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is another gold stock that is trending upwards in the market at the moment. This is a corporation based in the Americas that produces precious metals. At its development stage properties, land positions, and exploratory sites, Yamana is aggressively looking for gold and silver.
Yamana’s most recent update was issued on October 4th. The company said that after the market closes on October 28th, 2021, it will release its third-quarter operating and financial results. A conference call and webcast will be held the following day at 9 a.m. EDT. Yamana Gold’s financial results might have a significant impact on the stock.
Yamana Gold is heavily influenced by gold and silver prices, and it frequently moves in the same direction as the materials. The market has seen a lot of good momentum in the recent month for AUY stock. Is AUY going to be on your gold stock watchlist as October progresses, based on this information?
Best Gold Stocks For Your List?
Fears of inflation are currently prevalent in the market. Right now, no one knows how this will affect the market for all mining stocks. The pandemic is still raging in many regions of the world, despite the fact that it has subsided in the United States. Another thing to think about is what might happen to gold stocks in the future, especially now that the Delta variant is spreading. Which companies will you add to your list of gold stocks to watch in October?
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