Gold Digger: Strong inflation could pump gold price to $US8,900/oz by the end of the decade, experts say

Over the past two months the gold price has turned a corner, up ~12.7% to a high of $US1898/oz.

That’s a four month high, erasing almost all of 2021’s losses. The share prices of local gold stocks have responded in kind.

Over the past month big producers Evolution Mining (ASX:EVN) +10%, Silver Lake Resources (ASX:SLR) +10%, Perseus Mining (ASX:PRU) +11%, and Gold Road Resources (ASX:GOR) +15% have all made solid gains.

This gold bull run is far from over, experts say.

“We have entered a new paradigm that will be dominated by deeply negative real interest rates, high inflation, and low nominal rates — an extremely supportive environment for gold,” Diego Parrilla, who runs the Quadriga Igneo fund told Bloomberg.

Incrementum’s ‘In Gold We Trust’ report goes a step (or ten) further, predicting that should inflation rise significantly in the coming years, “we believe that five-digit gold prices are conceivable at the end of the decade”.

A ~$US5,000/oz gold price, they say.

“The conservative base scenario, (i.e.) without any extraordinary inflationary tendencies, results in a price target of USD 4,800 for gold,” the report says.

“If the decade was plagued by stronger inflation, a price of USD 8,900 could be expected at the end of the decade.”

USD Gold price over the past 2 years.

Winners & Losers

Here’s how ASX-listed gold & silver stocks are performing:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop

CODECOMPANY1 WEEK RETURN %1 MONTH RETURN %6 MONTH RETURN %1 YEAR RETURN %PRICE MARKET CAP
GBRGreatbould Resources301351463350.12 $ 42,284,151.72
TARTaruga Minerals23741056880.1025 $ 48,020,268.07
GNMGreat Northern0700700.017 $ 19,344,815.62
TLMTalisman Mining-461881450.225 $ 42,924,528.55
TRMTruscott Mining Corp3552841690.035 $ 4,477,954.04
MSRManas Res Ltd2950501250.009 $ 27,602,735.98
ANLAmani Gold Ltd5050000.0015 $ 12,386,996.75
VRCVolt Resources Ltd-348270680.037 $ 92,832,795.94
RDSRedstone Resources1342311830.017 $ 12,222,984.07
SLZSultan Resources Ltd-4384760.255 $ 18,426,613.09
DREDrednought Resources437133330.026 $ 61,707,294.03
CAZCazaly Resources2336391290.064 $ 20,695,542.95
PF1Pathfinder Resources-235670.325 $ 16,160,361.75
PRXProdigy Gold NL13342180.059 $ 32,515,145.94
NWMNorwest Minerals3336-440.1 $ 10,884,017.90
MTCMetalstech Ltd1432-2160.165 $ 25,379,910.27
PGDPeregrine Gold11310.36 $ 10,165,116.50
THRThor Mining PLC-1429-102000.018 $ 8,577,423.39
TIETietto Minerals14283140.365 $ 164,226,764.16
ICGInca Minerals Ltd33281624550.16 $ 60,637,860.00
GBZGBM Rsources Ltd827-7800.14 $ 58,457,438.10
MZZMatador Mining Ltd2227421000.47 $ 80,720,022.14
ASOAston Minerals Ltd27273528500.19 $ 166,984,550.08
IVRInvestigator Res Ltd1726895720.1075 $ 132,394,660.70
HRNHorizon Gold Ltd1326191320.49 $ 52,279,087.84
SVLSilver Mines Limited026481570.295 $ 351,308,176.33
STKStrickland Metals-1125-73940.025 $ 18,381,313.35
OKROkapi Resources122435640.23 $ 11,622,508.92
CHNChalice Mining Ltd11231248158.65 $ 3,019,044,384.27
TMZThomson Res Ltd-722698450.14 $ 62,528,963.85
KCCKincora Copper-14210.315 $ 22,764,002.58
OAUOra Gold Limited020-4260.024 $ 19,368,190.11
RSGResolute Mining-519-27-450.5775 $ 634,738,305.95
CDTCastle Minerals3619731110.019 $ 12,452,513.91
WRMWhite Rock Min Ltd61735150.575 $ 50,135,650.88
ALKAlkane Resources Ltd117-14-10.865 $ 535,849,920.00
M24Mamba Exploration33170.28 $ 9,620,000.00
BARBarra Resources1016-31290.022 $ 14,229,770.12
ENREncounter Resources37169370.185 $ 61,534,922.09
SSRSSR Mining Inc.015-224 $ 443,427,881.66
DEXDuke Exploration815140.415 $ 25,039,859.57
GORGold Road Res Ltd41520-91.4975 $ 1,338,938,569.76
AUCAusgold Limited151562860.054 $ 82,438,176.13
CHZChesser Resources2415-31870.155 $ 65,467,808.13
YRLYandal Resources-715281070.59 $ 59,299,241.98
AQIAlicanto Min Ltd-414-14460.12 $ 37,704,758.02
FFRFirefly Resources414-253850.12 $ 35,344,045.95
PRSProspech Limited714000.16 $ 9,753,088.35
MM8Medallion Metals.12140.285 $ 22,852,551.44
HRZHorizon81324180.13 $ 73,836,776.00
MGVMusgrave Minerals101392300.445 $ 229,285,868.07
PNXPNX Metals Limited131313130.009 $ 29,217,548.09
ADTAdriatic Metals-21213872.51 $ 454,361,685.12
MVLMarvel Gold Limited812-21310.056 $ 26,958,135.07
AGGAngloGold Ashanti-5127-156.28 $ 575,390,084.25
PNRPantoro Limited21217200.24 $ 345,057,565.86
MATMatsa Resources-711-35-320.078 $ 24,633,287.09
PRUPerseus Mining Ltd61121191.415 $ 1,723,171,902.35
DDD3D Resources Limited2511101020.005 $ 18,101,860.46
ANXAnax Metals Ltd-411382250.094 $ 33,267,469.55
BATBattery Minerals Ltd511-52230.021 $ 41,846,107.59
FFXFirefinch Ltd-23101422990.375 $ 301,985,356.37
SLRSilver Lake Resource31011-61.975 $ 1,754,334,876.85
PNMPacific Nickel Mines-2104310.055 $ 11,819,226.98
EVNEvolution Mining Ltd1103-65.27 $ 9,055,935,550.50
NUSNusantara Resources6104-100.285 $ 68,781,902.10
TTMTitan Minerals-8100460.115 $ 131,037,029.91
MRRMinrex Resources Ltd01001560.023 $ 12,676,152.27
CMMCapricorn Metals2915261.91 $ 670,287,302.29
WAFWest African Res Ltd-1919431.075 $ 989,013,620.00
GEDGolden Deeps209-201000.012 $ 8,523,365.84
SNGSiren Gold529-38830.365 $ 20,164,522.30
RMSRamelius Resources1913131.95 $ 1,603,614,014.02
DCXDiscovex Res Ltd-78880.0065 $ 16,696,316.49
MOHMoho Resources-28-2430.08 $ 8,262,032.16
NMRNative Mineral Res28280.3125 $ 7,779,645.00
CLACelsius Resource Ltd-2822580.043 $ 42,936,351.32
MEIMeteoric Resources77-121810.059 $ 77,572,700.80
ERMEmmerson Resources1174-300.08 $ 39,859,079.12
OZMOzaurum Resources-1560.17 $ 8,323,200.00
CAICalidus Resources46-2180.43 $ 167,503,848.54
GULGullewa Limited16-17340.087 $ 15,866,459.70
WMXWiluna Mining Corp-16-27-241.06 $ 157,588,590.92
ONXOrminexltd469600.053 $ 26,297,893.68
KRMKingsrose Mining Ltd4656330.056 $ 39,420,397.01
ALYAlchemy Resource Ltd666390.019 $ 10,083,651.80
VMCVenus Metals Cor Ltd185-5110.2 $ 28,704,949.77
KSNKingston Resources-45-24220.225 $ 65,259,497.58
GIBGibb River Diamonds-54-50400.07 $ 14,805,661.15
AMIAurelia Metals Ltd1245420.4475 $ 530,938,146.25
KCNKingsgate Consolid.-14171090.9 $ 203,603,346.00
BBXBBX Minerals Ltd04-181570.27 $ 113,720,323.34
MCTMetalicity Limited234-25690.0135 $ 23,267,582.92
DTMDart Mining NL-74-221500.14 $ 13,992,366.64
GSMGolden State Mining124-39-300.14 $ 11,584,770.12
MMLMedusa Mining Ltd6416290.85 $ 178,771,038.86
STNSaturn Metals24-41130.43 $ 48,359,739.30
KAIKairos Minerals Ltd03-11800.032 $ 53,647,026.37
E2ME2 Metals-63-561130.32 $ 48,050,689.92
MEGMegado143-60.16 $ 6,527,807.68
AGSAlliance Resources173-4-20.175 $ 33,282,741.44
BTRBrightstar Resources173-366000.035 $ 15,391,276.74
NAGNagambie Resources-4339250.071 $ 35,495,196.57
BCNBeacon Minerals-331480.036 $ 132,590,467.37
BYHBryah Resources Ltd13312480.077 $ 11,973,078.61
NSTNorthern Star22-11-1511.45 $ 13,495,933,220.40
NCMNewcrest Mining-123-528 $ 22,761,517,922.20
LEXLefroy Exploration3824985131.225 $ 138,011,117.05
AUTAuteco Minerals-61-6650.091 $ 144,180,462.11
PDIPredictive Disc Ltd715860.093 $ 115,432,749.71
EMREmerald Res NL21521190.985 $ 502,512,276.83
BGLBellevue Gold Ltd61-25310.945 $ 813,465,014.85
RVRRed River Resources20-172550.22 $ 108,732,617.07
HMXHammer Metals Ltd601843200.105 $ 79,051,946.86
FMLFocus Minerals Ltd-20-17200.295 $ 53,910,826.68
CSTCastile Resources-90-41000.26 $ 50,926,080.86
CTOCitigold Corp Ltd00-81400.012 $ 33,360,000.00
AWVAnova Metals Ltd50-1950.021 $ 28,661,884.00
CY5Cygnus Gold Limited300-231730.15 $ 16,263,014.70
MRZMont Royal Resources3018780.355 $ 13,446,233.83
KGMKalnorth Gold Ltd000860.013 $ 11,625,120.78
SBRSabre Resources100-50380.0055 $ 8,415,318.25
XTCXantippe Res Ltd00-2000.002 $ 8,149,128.80
DLCDelecta Limited00-1400.006 $ 6,051,727.23
DEGDe Grey Mining2-1532881.59 $ 2,045,301,531.69
WWIWest Wits Mining Ltd4-186550.083 $ 117,688,738.02
WGXWestgold Resources.3-2-2-22.23 $ 953,674,357.50
MEUMarmota Limited-4-2-2-170.043 $ 43,584,016.05
BNZBenzmining13-20.85 $ 30,835,600.62
RRLRegis Resources1-2-30-462.615 $ 1,975,534,786.82
PKOPeako Limited-12-3651390.038 $ 7,298,058.73
BRVBig River Gold Ltd3-3-19560.375 $ 83,345,667.14
TAMTanami Gold NL-1-31460.073 $ 85,782,084.36
CXUCauldron Energy Ltd3-39290.036 $ 16,271,982.43
RXLRox Resources0-3-31400.035 $ 82,743,996.20
SKYSKY Metals Ltd3-3-18-450.16 $ 39,463,972.48
S2RS2 Resources-6-3-44480.155 $ 48,808,132.75
RNDRand Mining Ltd3-3-23-261.5 $ 85,313,941.50
ADNAndromeda Metals Ltd-3-3-182270.2225 $ 442,949,204.54
NXMNexus Minerals Ltd-11-3-37700.085 $ 21,729,498.72
MKRManuka Resources.-5-4-90.385 $ 35,668,909.09
ARLArdea Resources Ltd4-414610.5 $ 63,196,938.09
AMGAusmex Mining Gp Ltd4-423200.048 $ 27,160,493.17
SRNSurefire Rescs NL0-4-237000.024 $ 26,331,849.84
BNRBulletin Res Ltd-3-4-8130.069 $ 12,371,222.11
HCHHot Chili Ltd3-5-221530.038 $ 114,181,808.82
BMOBastion Minerals0-50.19 $ 11,490,852.00
PURPursuit Minerals20-538714670.073 $ 67,297,525.87
CGNCrater Gold Min Ltd0-5-141000.018 $ 22,094,925.61
FAUFirst Au Ltd-5-5-14800.018 $ 11,063,317.57
DGODGO Gold Limited2-521523.58 $ 263,315,257.84
GSNGreat Southern0-5-26-400.053 $ 25,026,123.10
KZRKalamazoo Resources-10-5-22-260.43 $ 59,373,645.30
LCYLegacy Iron Ore7-61677000.016 $ 102,475,816.27
MTHMithril Resources0-6-3870.016 $ 37,603,728.66
SBMSt Barbara Limited5-7-25-361.895 $ 1,338,164,961.21
NVANova Minerals Ltd0-7-221800.14 $ 233,792,530.58
VANVango Mining Ltd-6-7-7-300.067 $ 72,331,546.07
AAJAruma Resources Ltd-7-7-36-110.067 $ 7,099,382.11
GMNGold Mountain Ltd0-7-7-260.04 $ 30,708,996.96
HAWHawthorn Resources11-7-50-530.052 $ 15,675,233.81
CWXCarawine Resources-4-72340.255 $ 27,222,475.50
RMLResolution Minerals4-7-38-620.025 $ 10,744,310.74
BDCBardoc Gold Ltd4-84-130.074 $ 130,144,303.20
AOPApollo Consolidated-3-83130.305 $ 88,029,279.95
KAUKaiser Reef-8-8-26-80.305 $ 30,494,631.51
TBRTribune Res Ltd-5-8-21-295 $ 261,028,683.08
MAUMagnetic Resources4-826211.45 $ 321,584,647.75
LCLLos Cerros Limited3-8402800.175 $ 80,404,050.34
AMEAlto Metals Limited-4-8-10450.09 $ 40,073,116.42
GTRGti Resources0-829-440.022 $ 13,534,877.96
TMXTerrain Minerals0-80830.011 $ 8,093,371.10
SVYStavely Minerals Ltd-3-9-3530.58 $ 153,967,256.68
BC8Black Cat Syndicate-2-99490.73 $ 101,253,433.82
AGCAGC Ltd3-90.155 $ 10,836,365.44
AGCAGC Ltd3-90.155 $ 10,836,365.44
A1GAfrican Gold Ltd.4-9472030.255 $ 23,245,250.22
SFMSanta Fe Minerals-9-9-7520.091 $ 6,626,509.80
GMRGolden Rim Resources0-9-9250.01 $ 26,703,496.79
MBKMetal Bank Ltd-9-9-9160.01 $ 13,029,591.34
TSCTwenty Seven Co. Ltd25-9-17-170.005 $ 11,973,103.02
PAKPacific American Hld0-9-171000.02 $ 6,371,698.00
CYLCatalyst Metals3-10-21-292.04 $ 204,455,103.84
TRNTorrens Mining4-100.14 $ 9,503,821.18
OKUOklo Resources Ltd-4-10-40-530.135 $ 68,044,024.62
ARNAldoro Resources17-101411000.35 $ 27,307,509.02
SAUSouthern Gold-6-11-28-460.076 $ 16,852,971.72
NSMNorthstaw5-11-280.335 $ 13,600,000.00
EM2Eagle Mountain-14-112175671 $ 209,511,138.90
NMLNavarre Minerals Ltd-12-12-47-280.115 $ 62,817,847.37
MDIMiddle Island Res15-12-62-580.115 $ 14,075,510.45
CBYCanterbury Resources8-12-3390.097 $ 10,850,924.11
TSOTesoro Resources Ltd-9-12-431390.1675 $ 79,923,842.40
ZAGZuleika Gold Ltd0-12-40320.037 $ 15,173,454.80
AZSAzure Minerals9-12-712150.29 $ 87,804,430.49
TINTnt Mines Limited-9-12-46-90.145 $ 13,981,364.00
AXEArcher Materials13-1246140.78 $ 180,829,236.80
OBMOra Banda Mining Ltd-11-13-30-170.21 $ 164,233,281.62
GRLGodolphin Resources-11-13-31-110.17 $ 14,298,771.74
KTAKrakatoa Resources-21-13-11540.054 $ 15,342,250.00
M2RMiramar0-13-410.2 $ 8,445,504.00
MHCManhattan Corp Ltd-7-13-52-70.013 $ 21,367,901.70
ZNCZenith Minerals Ltd-14-141041970.255 $ 83,892,608.55
AVWAvira Resources Ltd-14-14-332000.006 $ 8,250,240.00
IDAIndiana Resources-11-1481980.071 $ 22,226,136.19
REDRed 5 Limited-15-15-35-380.165 $ 387,143,335.76
MKGMako Gold-5-15-15520.093 $ 24,695,193.79
AWJAuric Mining0-160.16 $ 6,478,854.08
LNYLaneway Res Ltd0-17-29250.005 $ 18,875,329.67
SPQSuperior Resources-9-17-331000.01 $ 13,813,357.91
NPMNewpeak Metals25-17-29250.0025 $ 11,348,322.60
VKAViking Mines Ltd-12-17293180.029 $ 29,616,494.50
IPTImpact Minerals10-18-25180.0165 $ 32,380,718.70
AYMAustralia United Min0-18-103500.009 $ 16,583,197.37
RMXRed Mount Min Ltd0-18-25800.009 $ 11,261,902.40
AQXAlice Queen Ltd3-18-45-380.0155 $ 18,548,799.68
BRBBreaker Res NL6-193-300.19 $ 63,538,981.16
EMUEMU NL-5-20-71930.041 $ 19,514,580.39
AARAnglo Australian6-20-34-350.092 $ 54,188,771.33
SIHSihayo Gold Limited-14-20-40-170.012 $ 44,225,536.96
DTRDADateline Resources-20-20113600.08 $ 28,259,449.84
MLSMetals Australia0-20000.002 $ 8,454,376.09
GMLGateway Mining-8-21-15770.023 $ 43,783,618.80
AAUAntilles Gold Ltd14-2132500.074 $ 14,440,482.03
ADVArdiden Ltd0-21-481750.011 $ 21,493,542.16
SI6SI6 Metals Limited0-21-81200.011 $ 15,325,862.90
KWRKingwest Resources0-22-47-420.09 $ 14,807,447.19
CELChallenger Exp Ltd3-2246240.2925 $ 208,864,358.04
RGLRiversgold0-255430.043 $ 16,969,772.23
NESNelson Resources.-15-25-2500.061 $ 9,019,337.90
HWKHawkstone Mng Ltd-3-261902220.029 $ 49,076,799.21
RDNRaiden Resources Ltd-4-26-123600.023 $ 27,882,973.16
AL8Alderan Resource Ltd0-26-3900.06 $ 17,876,465.52
TNRTorian Resources Ltd-28-286180.034 $ 29,559,163.17
SMISantana Minerals Ltd-8-28-41-590.115 $ 13,113,753.14
DCNDacian Gold Ltd-16-28-18-360.28 $ 235,295,516.79
REZResourc & En Grp Ltd-18-28-48750.028 $ 12,518,742.88
GWRGWR Group Ltd-16-28302480.24 $ 74,182,678.54
PUAPeak Minerals Ltd-5-30-24500.019 $ 11,064,647.74
XAMXanadu Mines Ltd-16-3029110.049 $ 75,337,065.00
WCNWhite Cliff Min Ltd7-30-481290.016 $ 8,275,142.38
TRYTroy Resources Ltd-8-35-49-510.044 $ 33,332,805.79
G88Golden Mile Res Ltd3-3619340.063 $ 8,681,136.34
NAENew Age Exploration-6-36332200.016 $ 21,023,143.65
ARVArtemis Resources-5-37-511110.059 $ 67,069,094.70
HXGHexagon Energy-1-4243360.087 $ 41,033,272.08
A8GAustralasian Gold60.18 $ 5,629,539.97

 

Small Cap Standouts

SIREN GOLD (ASX:SNG) +52%

Siren is exploring the rich Reefton gold district on the South Island of New Zealand, an area which has already delivered 2Moz across 84 historical mines.

This week, drilling has pulled up high grades like 3.1m @ 10.9 g/t gold at the top of the ‘Loftus McKay’ shoot, part of the Alexander River project.

More results are incoming.

The company has generated a combined exploration target for Alexander River of 250koz-500koz of gold at 5 to 6 g/t.

 

AMANI GOLD (ASX:ANL) +50%

The Klaus Eckhof-managed tiddler owns the mammoth 4.4moz Giro gold project in the DRC.

It sits in the same rocks as Randgold Resources’ 17 million-ounce, 600,000 oz per annum Kibali group of deposits, 35km away.

An update to the 4.21moz Kebigda deposit Feasibility Study at Giro commenced in December.

 

LEFROY EXPLORATION (ASX:LEX) +38%

Kalgoorlie explorer Lefroy has gained 480% since the ‘Burns’ copper-gold discovery was first made in February.

New drilling has now extended the mineralised porphyry zone to at least 100m below an impressive earlier strike of 8m at 7.63g/t of gold and 0.56 per cent copper from 134m.

It is the first news flow from an accelerated 14-hole, 3000m diamond drill program.

 

ENCOUNTER RESOURCES (ASX:ENR) +37%

Last week, Encounter locked in a lucrative farm-in deal over the ‘Elliot’ copper project in the NT with major miner BHP (ASX:BHP).

This week, the company announced a drilling program would kick off in June at the wholly owned ‘Lamil’ and ‘East Thompson’ gold-copper projects in the Paterson Province of WA.

“Assays from the broad spaced RC drill program in February 2021 indicate that we are approaching the core of the copper-gold system at ‘Dune’ [Lamil project],” Encounter managing director Will Robinson says.

“With copper-gold mineralisation strengthening towards the end of a number of RC holes we are eager to test in the downhole extents.

“The program will also seek to extend the high grade 45 Reef identified at East Thomson’s Dome located just 5km from Telfer.”

The post Gold Digger: Strong inflation could pump gold price to $US8,900/oz by the end of the decade, experts say appeared first on Stockhead.

Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.

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