Gold stocks have been quite popular in the market for investors throughout 2021. The pandemic created a large amount of economic uncertainty, which made many investors flock to gold stocks and other mining assets in the last year and a half. 2021 has been a crazy year full of ups and downs for gold stocks. In July, the price of gold had its fair share of spikes and dips.
As we head closer to the end of the month, the price of gold has surpassed $1,800 per ounce. Many gold stocks will trend in tandem with the price of the metal itself. That is why looking at the price of gold is an essential step when investing in these mining stocks. As you know, the economy being down has been good for gold stocks. In fact, last year the metal reached a new record high price in the market.
Noting everything that has been stated above, you may be confused about which direction gold is moving in. Well, it can be confusing considering a large amount of uncertainty in the market. It is important to stay up to date on the latest news if you are investing. This can be anything from sector news, world news, to company-specific news. Looking at the volume of a stock is also useful when investing. Let’s now take a look at three gold stocks that could potentially perform well before August.Top Gold Stocks To WatchNew Gold Inc. (NYSE: NGD)
New Gold Inc. is a gold penny stock that operates and develops a variety of unique mineral properties. The company searches for silver and copper deposits in addition to gold. New Gold owns 100% interest in the Rainy River gold and silver mine in Canada, New Afton gold and copper mine in Canada, the Blackwater gold-silver project in Canada, and the Cerro San Pedro gold-silver mine in Mexico.
On July 15th, New Gold reported its second quarter operational results. The President and CEO Renaud Adams said, “Our operations continued to advance their primary objectives during the quarter. Rainy River had another solid operational quarter and is positioned to have a stronger second half of production. As we start the third quarter, the mine has now successfully transitioned from focusing on stripping, and we are now seeing a marked improvement in grades through the first half of July.”
This gold penny stock frequently experiences spikes in the market. Penny stocks are companies that trade under $5 per share. These stocks are often more volatile than traditional blue chip stocks. Penny stocks can move up or down in large percentages within a single trading day. With all of this in mind, will NGD stock enter your watchlist?Royal Gold Inc. (NASDAQ: RGLD)
Royal Gold Inc. is a royalty-based gold stock that acquires and manages royalties and metal streams. The company accomplishes this for stream or royalty interests. Royal Gold’s target minerals are are gold, silver, copper, zinc, nickel, lead, and cobalt. Currently, the company has 189 locations on 5 continents. Royal Gold operates 41 mines and 17 developmental stage projects.
On July 13th, Royal Gold provided an update on its fiscal 2021 fourth quarter stream segment sales. The company sold 63,500 gold equivalent ounces in the quarter, which was in line with its guidance range that was previously provided. In other recent news, Royal Gold acquired a gold stream on Ero Copper’s NX Gold Mine.
The President and CEO Bill Heissenbuttel said, “The NX Gold Mine is a low-cost operating mine with a history of reserve replacement and resource additions, and Ero is a high-quality and well-funded operator with a proven record of exploration success. In addition to supporting near-mine and regional exploration efforts, we are pleased to incorporate delivery-based payments dedicated to supporting Ero’s ESG programs in the local communities around the mine.” Noting this recent information, will RGLD contend for your list of gold stocks to watch?AngloGold Ashanti Limited (NYSE: AU)
AngloGold Ashanti is a gold mining company that produces gold, silver, uranium, and sulpheric acid. It currently operates 14 mines and three projects, located in nine countries around the world. These countries include Americas, South Africa, Continental Africa, and Australia.
On July 13th, AngloGold Ashanti Limited submitted a proposal to purchase Corvus Gold Inc. The company’s Interim CEO Christine Ramon said, “The Proposal is fully aligned to our strategy of growing Ore Reserve, building low-cost production, and generating sustainable returns. We have a unique opportunity to combine Corvus’ assets with our own – in the world’s top-ranked mining jurisdiction – to create a meaningful new production base for AngloGold Ashanti in the medium and longer term.” AU stock has had a few spikes and dips throughout July 2021. Will this gold stock make your watchlist in 2021?The Future of Gold Stocks?
There are currently a lot of inflation fears in the market. Currently, nobody knows how this will truly affect the market for gold stocks. The pandemic is still going on strong in many places around the world despite its calming in the United States. That is another factor for what can happen to gold stocks in the future. Which gold companies will enter your list of mining stocks to watch this coming August?