Back in 2020, things seemed positive for gold stocks. That was until the pandemic arrived and disrupted the entire market. But gold stocks quickly came back and recovered. This is because the price of gold rising as a result of increased demand and lack of supply. When the economy is hurt, generally gold stocks will go up.
Investors often trust metals more than the dollar in times like this. Obviously what has been seen recently is an unprecedented period of time. This leads you to ask, where is gold headed next? Well, first we have to look at what things are impacting the yellow metal at the moment. The first of which is obviously the pandemic.
Some analysts have speculated that gold could reach upwards of $2,500 per ounce in the future. But this is all speculation of course. For now, you must be careful when investing in this volatile sector. What steps should you take when investing in gold stocks? Well, it is always important to look at news that is going on in the sector. World news also has a large impact on precious metals.
You should also look at the trading volume of a stock that you may be investing in. These are all things that can help when deciding which the best gold stocks to watch are. Some may think it is not the right time to invest in the metal sector. But this is not necessarily true. There are many mining stocks trending in the market. So let’s have a look at four gold stocks that have been high performers in recent history.Top Gold Stocks To Buy Or SellAlamos Gold Inc.
The first company on this gold stock list is Alamos Gold Inc. Alamos Gold is an acquisition, exploration, development, and extraction corporation. Alamos will look for gold, silver, and other precious metal deposits. The company’s main asset is the Young-Davidson mine in Canada that is about 11,000 acres in size. Additionally, the company holds interest in plenty of development stage projects in the United States, Canada, Mexico, and Turkey. So how has the company been performing in 2021 so far?
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The latest update from Alamos Gold came from January 27th, 2021. The company announced that it has extended its high grade gold mineralization laterally. It also reported new results from surface and underground exploration drilling at the Island Gold Mine. The President and CEO of Alamos, John A. McCluskey stated, “Despite not completing as much drilling as planned due to COVID-19, the 2020 program included some of the best exploration results drilled to date at Island Gold.”Gold Fields Limited
Next up on this gold stock list comes Gold Fields Limited. This is a gold producing business that has a diverse set of resources and reserves. Its reserves are in Chile, South Africa, Australia, Ghana, and Peru. Gold Fields presently has 9 operating mines with an annual gold equivalent production of 2.2 million ounces. Furthermore, Gold Fields possesses gold mineral reserves of about 51.3 million ounces and mineral resources of 115.7 million ounces. It also has copper reserves of 616 million pounds and mineral resources totaling 882 million pounds. So let’s have a look at what the recent updates and performance has been for this mining corporation.
Apart from appointing a new company CEO designate, Gold Fields has not released any updates in 2021 so far. But this may not last long, as earnings season has already begun and many companies are reporting. It will be interesting to see what is next in Gold Fields reports, as it can move GFI stock up or down. As of February 18th, GFI stock closed at $8.67 per share. Just one year ago, this gold stock was at $6.50 per share on average, so the growth it experienced in 2020 is clear. That is what makes this a potential gold stock to buy or sell.AngloGold Ashanti Limited
Last up on this gold stock list is AngloGold Ashanti Limited. 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. Let’s have a look at its 2021 performance so far.
This is another gold stock that generally is moving with the price of gold itself at the moment, releasing no recent updates. This stock did receive a slight bump from alleged Reddit traders causing the price of silver to go up. For now, we wait to see what is in store next for this gold stock. As of February 18th, this gold stock is at about $21 a share on average.