Over the past year, 101 of the 147 gold-focused stocks on our list have made gains – 60 of these by 100 per cent or more.
That’s a big jump from last month, when 38 gold stocks had recorded 12-month gains of 100 per cent or more.
This week, the precious metal held its ground above ~$US1,800/oz ($2,599/oz), and just 34 of the stocks on our list finished in negative territory.
Commodities analyst Barani Krishnan says gold is being propped up “on the lower end” by expectations of more COVID-19 based stimulus for the US economy.
“[But] that could ultimately debase the currency and prop up alternatives like the precious metal,” he says.
“Gold, at best, can be described as being torn between its safe-haven bona fides — which are prompting money managers to sell on risk-on behaviour in markets — and its inflation-hedge characteristics — which are driving a swarm of capital to seek refuge in the yellow metal.
“Ultimately, real rates could continue to drive gold prices higher as normalising inflation expectations and suppressed rates will provide fuel for the trade.”
In other words — $US1,900/oz here we come.
Here’s how ASX gold stocks performed for the period July 4 – July 10 [intraday]:
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Small Cap Highlights
Krakatoa Resources (ASX:KTA) is adding to its portfolio of Lachlan Fold Belt copper-gold projects.
The junior explorer has an application over the Rand project, which its believes is prospective for multi-million-ounce gold deposits.
Rand includes the historic Bulgandra Goldfield, where old timers dug out high grades up to 265 grams per tonne (g/t) gold from exposed quartz veins.
Krakatoa been a quiet bolter, up 59 per cent this week for a strong 12-month return of +426 per cent.
Advanced explorer Titan Minerals (ASX:TTM) has made two key personnel appointments designed to fast-track exploration at its gold projects in Ecuador.
“The appointment of highly experienced Freddy Villao, as vice president of government affairs, will strengthen the company’s position within Ecuador and support all aspects of engagement with both local and national government departments,” Titan says.
“In addition, Sinisa Glisic has been appointed as the in-country exploration manager, who brings a cache of technical experience and a strong track record in resource definition and project development in Ecuador.”
Titan plans to conduct a drilling campaign across Dynasty and deliver a JORC resource during Q4 2020.
The stock was up 48 per cent for the week.
Minnow Dart Mining (ASX:DTM) reckons it has identified a new style of gold mineralisation at the historic Sandy Creek and Tallandoon gold fields in northeast Victoria.
Dart’s exploration focus has now shifted from the extremely high grade but narrow gold veins to the lower grade but higher volume stuff.
The former lithium stock is now up 23 per cent for the week and 90 per cent over the last 12 months.
Sultan Resources (ASX:SLZ) got a nice 20 per cent bump after defining a 1km by 0.4km low-grade gold and copper soil anomaly during initial sampling at the Ringaroo project in NSW’s Lachlan Fold Belt.
The high-priority Ringaroo porphyry target is undrilled and remains open to the south, west and north, the explorer says.
At Stockhead, we tell it like it is. While Titan Minerals, Sultan Resources and Moho Resources are Stockhead advertisers, they did not sponsor this article
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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.