Gold mining stock performance this week

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The gold price still lacks momentum and hangs on the $1750 mark at the moment. The Fed Reserve has announced after the FOMC meeting this week in the press conference to maintain the current monetary policy. Tapering is very likely to start this year, but interest rates will remain close to zero. With the announcement, the Fed remains true to its line and waits until the labor market figures meet the expectations. Whether the rising national debt is an advantage remains questionable. The market is content at the moment, however, because liquidity will continue to be available.
Asian investors, however, are more skeptical because of the threat posed by the Chinese giant Evergrande. The due bond payment was not made this week. The Chinese central bank has already prepared for the situation and started pumping liquidity into the financial markets.

Shares of gold producers remain cheap. A gold price just above $1750 lets gold producers generate a lot of cash flow.
How did gold producer stocks perform this week?

Gold Mining Stock Performance

Data from https://finance.yahoo.com, Period: 20.09.2021 – 24.09.2021

Top 3 Performer:

AngloGold Ashanti Limited (NYSE: AU): AngloGold Ashanti is the 3rd largest gold producer globally with headquarters in Johannesburg, South Africa. The company produced 3.047 million ounces of gold in 2020.1

Kirkland Lake Gold Ltd. (NYSE: KL): Kirkland Lake Gold Ltd. is a senior gold producer headquartered in Toronto, Canada, and operating in Canada and Australia. Production target for 2021 is 1,300,000 – 1,400,000 ounces of gold.2

Sibanye Stillwater Limited (NYSE: SBSW): Sibanye Stillwater Limited has operations in South Africa, North and South America. The company, headquartered in Johannesburg South Africa, produces gold as well as other precious metals and industrial metals such as copper.3

Article Source:

  1. https://www.anglogoldashanti.com/company/
  2. https://www.kl.gold/about-us/default.aspx
  3. https://www.sibanyestillwater.com/about-us/

The data mentioned here in this article are freely chosen by Naturaldeposit, without the influence of any third party.
The article is for informational purposes only and should not be considered investment advice or a recommendation to invest in any security or to use any investment strategy. Although we assume that the information contained herein is reliable, we do not guarantee its accuracy, completeness, or typographical errors. Our content may not be appropriate for all investors. The data in our content is reflected as of the date o
f publication and is subject to change without notice.
The data is by no means intended to be a full analysis of all relevant facts relating to any country, region, market, industry, investment, or strategy.

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