With all the recent news regarding COVID-19 vaccines, and hopes for a speedy recovery in the economy, gold and gold-related stocks have fallen out of favor a bit.
In fact, gold has corrected by around 11% from peak to trough in its slide from the recent ATHs reached in early August.
Not surprisingly, gold stocks have taken a beating, with the main "large cap" gold mining ETF GDX down by roughly 22% from peak to trough in the same time frame.However, markets may be somewhat confused regarding gold and gold miners right now.Why gold and gold miners are likely headed much higher over the next 1-2 years. Source With money flowing back into the stock market, COVID-19 vaccine developments, hopes for a speedy recovery in 2021, and other factors, gold as well as gold-related stocks have taken a beating in recent months. GOLD Source: StockCharts.com We can see that after gold’s […]
November 18, 2020 (updated November 18, 2020) Published by StockMan