Can These Gold Stocks Hit New Highs This Week?
The sustained rally in gold was one of the biggest stories of 2019. It is likely that the rally might continue in the near term. The uncertainties in the global investment climate owing primarily to the lingering trade war have been regarded as the biggest factor behind the surge.
Towards the end of 2019, gold experienced another mini-rally due to continued doubts about a new trade deal. In such a situation, gold stocks can sometimes generate handsome gains. Here is a look at three stocks to watch this week.
Gold Stocks to Watch #1 Barrick Gold
The first gold stock to watch is that of Barrick Gold Corp (NYSE:GOLD). It is one of the biggest gold miners in the world and owns as many as 15 gold mines spread across several continents. Considering the fact that the price of gold might rise again, it would be wise for investors to track such a major gold producer.
Due to its sheer scale of operation, Barrick could benefit enormously from any rally in gold prices. Based on the year that Barrick had in 2019, it could be a top gold stock to watch this month.
Gold Stocks to Watch #2 Yamana Gold
The other gold stock that is worth tracking is Yamana Gold Inc. (NYSE:AUY). It has recorded highly impressive gains since late May last year. During this period, the stock gained over 100% and has emerged as one of the best performers among gold stocks.
There are widespread expectations about strong performance in the fourth quarter. Additionally, positivity about major mines and back to back raises in dividends are also important factors behind the rally.
Gold Stocks to Watch #3 Coeur Mining
Lastly, Coeur Mining Inc (NYSE:CDE) has emerged as one of the better performers and since June last year, it has gained over 150%. Last month, the company provided updates with regards to its exploration activities for 2019.
Coeur provided encouraging updates with regards to the activities at many of its properties and that could prove to be a positive for the company in the near term.
