4 Gold Stocks Breaking Upward To New 6-Month Highs
The reason, historically, that gold and gold stocks begin to go higher is fear.
If there’s enough fear in world markets, it’s the precious metal that tends to find buyers. It might be fear of renewed inflation, or it might be fear of disinflation. That Vladimir Putin keeps bringing up the subject of nukes might be a reason.
Whatever it is, the price of gold and gold stocks slowly but surely continues to gain in value. From selloffs that seem to have bottomed in the September/October/November time frame, buyers have steadily returned and now, in January, 6-month highs are in place.
Each one of these 4 major gold miners is a component of the VanEck Vectors Gold Miners ETF, a benchmark for the sector:
Agnico Eagle Mines Ltd (NYSE: AEM) has corporate headquarters in Toronto, Ontario, Canada and operates mines in that country as well as in Australia, Finland and Mexico. The company has “exploration and development” projects in the United States and Columbia. With a price-earnings ratio of 37 and trading at 1.57 times book, Agnico Eagle pays a 2.89% dividend. Market capitalization for the mining company sits at $25.2 billion.
The crossover of the…
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