The gold price has once again experienced a turbulent week with initial highs above the $1,800 mark but then was quickly knocked down again to $1,780. One could almost think that every time the gold price makes its way to break out, forces are at work to prevent this with all means try.
Then the gold price has closed on Friday at $1,796.50 per ounce. On Wednesday, the price could still welcome the $1,830 threshold, which indicated that gold could dare a breakout.
The minutes of the last Fed meeting were published this week, which led to some surprises. The topics that had already been discussed before were less surprising. Members apparently spoke in favor of an end to the QE program as soon as possible, and it was also previously known that interest rate hikes will be tried. However, plans to reduce the Fed’s balance sheet also came as a surprise. Whether this really happens, in the end, remains to be seen because current data speak a very clear different direction.
Interest rate hikes are said to be Bearish for gold prices. The question is first how high these increases should be. The real bullish case for gold are still the real interest rates. As long as these continue to be negative, the course is set for gold.
The gold stocks in the form of gold miners and streaming companies have also had a volatile week with heavy losses for the majority. However, this could be an opportunity to strike here, because with a gold price of $1,800 gold miners generate a lot of cash flow. So let’s look at how the gold stocks in our watchlist performed this week.
Gold Mining Stock Performance
Current Price and P/E Ratio
|Mining Company||Ticker||Current Price in USD||P/E Ratio|
|GoldMining Inc.||GLDG||1,47 $||2,44|
|Sibanye Stillwater Limited||SBSW||13,09 $||3,18|
|Northern Star Resources Limited||NESRF||6,56 $||8,08|
|Newcrest Mining Limited||NCMGY||17,23 $||11,68|
|Endeavour Mining plc||EDVMF||21,01 $||11,55|
|Newmont Corporation||NEM||59,43 $||22,8|
|Equinox Gold Corp.||EQX||6,44 $||4,06|
|Barrick Gold Corporation||GOLD||18,10 $||16,03|
|Royal Gold Inc.||RGLD||99,29 $||24,29|
|Agnico Eagle Mines Limited||AEM||50,13 $||18,06|
|Kirkland Lake Gold Ltd.||KL||39,49 $||11,37|
|Kinross Gold Corporation||KGC||5,45 $||6,66|
|Hecla Mining Company||HL||4,87 $||137,03|
|First Majestic Silver Corp.||AG||10,32 $||68,63|
|K92 Mining Inc.||KNTNF||5,27 $||46,92|
|Gold Fields Limited||GFI||10,18 $||9,24|
|B2Gold Corp.||BTG||3,64 $||8,86|
|Yamana Gold Inc.||AUY||3,90 $||28|
|SSR Mining Inc.||SSRM||16,35 $||13,35|
|Franco-Nevada Corporation||FNV||127,31 $||36,31|
|Alamos Gold Inc.||AGI||7,03 $||15,43|
|Polymetal International plc||AUCOY||16,31 $||7,38|
|AngloGold Ashanti Limited||AU||19,10 $||8,7|
|Pan American Silver Corp.||PAAS||22,48 $||19,34|
|Wheaton Precious Metals Corp.||WPM||38,56 $||29,57|
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