Will these gold stocks rise in value next month?
November is almost approaching, and with it may potentially come a slew of high-performing gold stocks. The price of gold may increase as the new month begins, causing many stocks to rise in value. 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. Right present, the economy is still in a poor state.
What if you’re not sure where to start when it comes to gold stocks? There are certain actions you may do to help this process along. Examining gold prices on a daily or weekly basis might provide insight into the state of the market. When looking for gold stocks to buy in July, looking at charts to spot trends and patterns can help. News about the yellow metal, such as shortages, might also be quite valuable. However, sector-related factors are not the only factors that influence gold prices.
The direction in which gold stocks are moving is frequently influenced by world news. Of course, the epidemic, reopening, and vaccines are the most recent examples of this. Right now, there is a lot of concern about inflation in the market. The price of gold has undoubtedly been influenced by inflation fears. Whatever is influencing gold stocks this month, there is much to keep an eye on. Let’s take a look at three that could do well in the coming months.
Top Gold Stocks To Watch
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a gold stock that has recently risen in value. This is a precious metals miner that will actively search for and mine gold and silver ores. It owns the Cerro Moro Mine, the Malartic Mine, the Minera Florida Mine, and other mines. Canada, Chile, Brazil, and Argentina are all home to its mines.
On September 6th, Yamana Gold announced positive exploration results at its producing operations. The new zones and targets for the company have the potential to dramatically boost the company’s mineral resource base and mine life at all of its operations. The shares of AUY surged in value two days after the announcement on the 8th. Its stock is currently trading at an average price of $4.32 per share. Will you add AUY to your gold stock watchlist before next week, keeping this in mind?
AngloGold Ashanti Limited (NYSE: AU)
AngloGold Ashanti is a gold and silver mining corporation that also generates uranium and sulphuric acid. It presently owns and runs 14 mines and three projects in nine different countries. The Americas, South Africa, Continental Africa, and Australia are all included.
With Latin Metals, the company signed a non-binding letter of intent for three gold properties. These projects are in Argentina’s Salta Province. 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 stock make your watchlist before November?
Newmont Corporation (NYSE: NEM)
Newmont Corporation is a silver, gold, copper, zinc, and lead mining company that produces and explores for these metals. The property owned by Newmont is spread over the United States, Mexico, Canada, Peru, and a few other nations. As of December 31, 2020, it had 94.2 million ounces of proven and probable gold reserves. Newmont Corporation has 58,900 square kilometers of land.
A few months ago, Newmont released its second-quarter results for 2021. Its 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.” Noting this new info, will NEM make your gold stock watchlist?
The Future of Gold Stocks
Investing in gold stocks might be challenging at times. It’s critical to be informed about what’s going on in the market. Which gold stocks will you be keeping an eye on for the time being?
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