Uncertainty is Good for Gold

Uncertainty is Good for Gold

$XAU, $XAG, $GLD, $GDX, $GOLD, $NEW, $FNV, $AEM, $AU, $RGLD, $KGC, $GFI, $GDX, $GDXJ

Investors buy gold for several reasons, but the Key 1 is geopolitical uncertainty, it is a powerful force when it comes to gold demand.

With China devaluing its RMB Yuan and halting purchases of US agricultural products in response to President Trump’s additional tariffs threats last week, gold and gold miners are having their day.

The price of Dec US gold closed up by 0.5% at $1484.00 oz Tuesday.

The Big Q: Can the failed attempts to get to $1,500 seen at the end of June and start of July do it in August?

Below is a list of the Top gold and related stocks with a market cap of $5-B or more, with 2 exceptions. The consensus analyst target price data comes from Refinitiv, as follows:

Newmont Goldcorp Corp. (NYSE:NEM) has a 52-wk range of 29.06 – 40.33 and a consensus target price of 43.94. Its market cap is $30.9-B, and it has a 1.5% dividend yield.

Barrick Gold Corp. (NYSE:GOLD) has a 52-wk range is 9.53 – 17.91, and the consensus target price is 16.84. Its market cap is $31.4-B, and it has a 0.9% dividend yield.

Franco-Nevada Corp. (NYSE:FNV) has a 52-wk range of 58.26 – 92.79. The consensus target price is 81.27. Its market cap is $17.2-B, and it has a 1.1% dividend yield.

Agnico Eagle Mines Ltd. (NYSE:AEM) has a 52-wk range is 32.18 – 56.16, and the consensus analyst target is 60.09. It has a market cap of 13.3-B and a 0.9% dividend yield.

AngloGold Ashanti Ltd. (NYSE:AU) has a 52-wk range of 7.08 – 20.17 and a consensus target price of 19.81. Its market cap is $8.3-B. The dividend yield is 0.4%.

Royal Gold Inc. (NASDAQ:RGLD), which makes its money from precious metal income streams, royalties and related interests rather than as an actual gold mining outfit itself trades in a 52-wk range is 70.16 – 121.40, and the consensus target price is 105.46. Its market cap is $8.0-B, the dividend yield is 0.9%.

Kinross Gold Corp. (NYSE:KGC), has a market cap is about $5.7-B. Kinross Gold has a 52-wk trading range of 2.38 – 4.88 and a consensus target price of 4.75. Its market cap is $6.0-B.

Gold Fields Ltd. (NYSE:GFI) has a market cap of $4.3-B, the 52-wk range is 2.20 – 5.96. It has a consensus target price of 5.56, a market cap of $4.7-B and a 0.5% dividend yield.

Wheaton Precious Metals Corp. (NYSE:WPM) formerly known as Wheaton Silver trades in a 52-wk range of 15.08 – 27.66. The market cap is $12-B.

The SPDR Gold Shares (NYSEARCA:GLD) is the world’s largest gold ETF trades in a 52-wk range of 111.06 -138.64. Its total asset value is now $38.5-B.

The gold and gold mining ETFs are way up too.

VanEck Vectors Gold Miners ETF (NYSEARCA:GDX) has a 52-wk range of 17.28 – 29.01. Its market cap is $11.3-B.

The VanEck Vectors Junior Gold Miners ETF (NYSEARCA:GDXJ) as a $4.5-B valuation, and a 52-wk trading range of 25.91 – 41.60.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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