Compared to normal stocks, gold is one of the least volatile properties. That’s why, in tumultuous times such as these, during a pandemic and a national economic crisis, gold stocks have been booming.
Why are gold stocks so much safer than other stocks? According to stock market trends, gold is the antithesis of the U.S. dollar in trajectory: at the dollar decreases in value, gold increases. Lo and behold, the dollar has been steadily descending ever since March this year. Let’s take a look at the current state of the top gold stocks on the market.
What are the top gold stocks?
At the moment, several companies are holding steady success in the gold mining industry. The biggest names include Sibanye Stillwater Ltd., Jaguar Mining Inc., Karora Resoruces Inc., Victoria Gold Corp., Eldorado Gold Corp., VanEck Vectors Gold Miners ETF (GDX), Russell 1000, Aura Minerals, and Tudor Gold Corp.
Jaguar Mining Inc. is the best stock across-the-board. It’s the fastest-growing, has the most momentum, and highest value. The Canadian company is currently setting its sights on Brazil, and 2020 Q3 has given it increased gold production of 24.7% for the 5th year in a row.
Another company focusing on Brazil, with both gold and copper mining on its agenda, is Aura Minerals. Its momentum rose when it introduced the first public introduction of its gold extraction from a Brazilian open-pit mine this past October.
Another high-value company is Karora Resources Inc., a global gold-slash-precious metal mining company.
Victoria Gold Corp., Eldorado Gold Corp., VanEck Vectors Gold Miners ETF, Tudor Gold Corp. are all Canada-based companies involved in scouring for and generating gold, mainly in the Americas, with some in British Columbia’s Golden Triangle (like Tudor) and others focusing on closer places, like Yukon and Nevada (Victoria Gold Corp.).
One South African company, Sibanye Stillwater Ltd., escaped litigation regarding a class-action about allegedly false mine safety claims from 2018. Cleared and dismissed by the U.S. federal court, Sibanye has amended its reputation and is back in the game, resulting in a higher stock value.
Canada is a major “gold-mine” in the industry, with 2018 fostering about 75% of total gold production in Quebec and Ontario.
Needless to say, companies are continually finding endless reservoirs of potential for gold mining, among other precious metals, making gold stocks a lucrative option in the current economy.