VanEck Junior Gold Miners ETF (ARCA: GDXJ)

Ultime notizie per VanEck Junior Gold Miners ETF (ARCA:GDXJ)

VanEck Junior Gold Miners ETF

VanEck Vectors Junior Gold Miners ETF

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The fund normally invests at least 80% of its total assets in securities that comprise the index. The index includes companies that generate at least 50% of their revenues from gold and/ or silver mining/ royalties/ streaming or have mining projects with the potential to generate at least 50% of their revenues from gold and/ or silver when developed. It is non-diversified.

Alamos Gold Inc

Harmony Gold Mining Co Ltd

Cia De Minas Buenaventura Saa

Evolution Mining Ltd

Endeavour Mining PLC

Industrias Penoles Sab De Cv

Zhaojin Mining Industry Co Ltd

Hecla Mining Co

Coeur Mining Inc

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Gold has long been a cornerstone of personal finance strategies, prized for its role as a hedge against inflation and economic uncertainty. Investors have two primary avenues to gain exposure to gold: purchasing physical gold or investing in gold exchange-traded funds. 
Each approach offers unique advantages and drawbacks, making the right choice dependent on financial goals, risk tolerance and <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44836846/wall-streets-mood-turns-bleak-as-global-recession-fears-mount-fund-managers-slash-us-exposure">investment horizon.</a>
Physical Gold: Physical gold refers to tangible assets, such as gold bars, coins and jewelry. An investment in physical gold is appealing to some investors as it is independent of banks or financial institutions with no digital records or intermediaries involved. Gold's intrinsic value and historical role as a store of wealth also make it appealing for generational wealth transfer.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/global/25/04/44841158/hongkong-post-stops-us-package-service-china-e-commerce-stocks-drop">Hongkong Post Stops US Package Service, China E-Commerce Stocks Drop&nbsp;</a>
"Amidst the recent stock market turbulence, we're seeing renewed interest in tangible, physical assets that exist outside traditional financial structures," Tim Schmidt, the founder of Gold IRA Custodians,<a href="https://www.cnbc.com/2025/04/11/is-this-a-good-time-to-buy-gold-experts-weigh-in.html"> told </a>CNBC.&nbsp;
However, the costs of secure storage and insurance can be high and the market for physical gold can be relatively illiquid with transactions sometimes incurring delays before a buyer or seller can be found. Also, physical gold does not generate interest or dividends so returns can only be realized when the gold is sold.&nbsp;
Gold ETFs: Investing in a gold-focused <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44836076/gold-fund-inflows-smash-record-with-80-billion-in-2025-these-etfs-are-riding-the-3300-surge">exchange-traded fund </a>can provide investors with exposure to gold's price movements without the need to own or store the metal directly.&nbsp;
"For most [investors], I would say a gold bullion-backed ETF makes the most sense," Sameer Samana, head of global equities and real assets at the Wells Fargo Investment Institute, told CNBC.
Both the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) and iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), are backed by physical gold bullion held in secure vaults, and each share represents a specific amount of gold. 
Investors can also find exposure to gold through the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), tracking the performance of the NYSE Arca Gold Miners Index, and the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) which focuses on smaller, early-stage gold miners, offering higher growth potential but increased volatility. 
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Gold Hits New Record Highs As Safe-Haven Demand Climbs: 2 Ways To Invest

As tensions in geopolitics rise and global markets seesaw, investors are flocking to gold — not in bullion form, but through <a href="https://www.benzinga.com/etfs">ETFs that provide hassle-free access</a> without storage woes. 
As <a href="https://www.benzinga.com/etfs/specialty-etfs/25/04/44748769/gold-fever-grips-wall-street-these-etfs-are-striking-it-rich">gold prices reach 18-month highs</a> and uncertainty lingers thickly over U.S.-China trade relations, gold-backed ETFs are witnessing a record high demand.
The gold mania hasn&#8217;t been confined to the precious metal itself. Gold miners are also getting in on the action. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) zoomed to its best level since 2012, surging 6.11% at last check Friday. 
Largest holding in the fund, Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) is up more than 9% today. It jumped 25% this week alone, — its most optimistic weekly gain in 1998 — as investor demand expanded beyond bullion to the miners that dig it.
A number of other gold miner ETFs also showed impressive performances for the day:
<ul>
<li>iShares MSCI Global Gold Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) took the lead with a 6.39% increase at mid-day.</li>
<li>Sprott Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>) closely followed with a 5.87% increase.</li>
<li>Global X Gold Explorers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOEX#NYSE">GOEX</a>), which invests in exploration-oriented miners, went up 4.75%.</li>
<li>VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>), which invests in smaller-cap gold miners, went up 5.13%.</li>
</ul>
In March alone, physically backed gold ETFs across the world collected $8.6 billion in inflows, the World Gold Council reported. That brought first-quarter inflows to $21 billion — the second-largest on record, behind only the frenzied second quarter of 2020 at the pandemic&#8217;s peak.
North American investors spearheaded the rush, contributing $12.9 billion—or about 76% of the quarter&#8217;s total. The action is part of a wider flight to safety as equity and bond markets totter in the face of renewed volatility.
The renewed gold rush follows just days after President Donald Trump imposed sweeping tariffs on 60 nations. 
Some countries were granted a 90-day respite — the EU among them. But China was struck with a 125% tariff increase. Beijing&#8217;s retaliatory move with an 84% tariff renewed the threat of an all-out U.S.-China trade war. While markets faltered, gold rose 3.3% on Wednesday and another 1.6% on Thursday, rising to within $50 of its historic high. Spot gold last traded at $3,117.15 an ounce in London.
Even a stunning rebound in equities hasn&#8217;t dimmed the yellow metal&#8217;s sheen — the S&amp;P 500 surged almost 10% on hopes for tariff relief. Yet, investors continue to hedge with gold as they prepare for more economic uncertainty and potential Federal Reserve intervention. A falling dollar and growing expectations for rate cuts only fuel the momentum.
The widespread surge in large-cap, junior, and exploration-centric gold mining ETFs highlights investor belief in depth within the precious metals sector. With volatility emerging as the new standard, physical gold and its equities-based counterparts are retaking their strategic safe-haven roles.
Read Next: 
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</ul>
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GOEX

RING

SGDM

Gold Miners Go Parabolic: GDX Hits 2012 Highs, Newmont Soars 9%

Gold hit a fresh record high on Thursday, with spot gold <a href="https://www.benzinga.com/25/03/44325928/gold-smashes-through-3000-mark-as-markets-brace-for-turbulence-and-fed-signals">crossing $3,000 per ounce</a>, up 1.8%. It has surged 13% in 2025, outperforming all major asset classes. On Friday, spot gold pared some of the gains and was trading at $2,982.73 as of 11:50 a.m. EST.
Needless to say, <a href="https://www.benzinga.com/etfs">gold ETFs</a>, which offer investors exposure to gold without owning the metal, have gained from this rally. Some top-performing gold ETFs include:
SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>): Tracks spot gold prices closely and has an expense ratio of 0.4%. It has risen 12% year-to-date, illustrating the strong demand for gold as a safe-haven asset.
iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>): Follows the performance of the price of gold bullion. It carries an expense ratio of 0.25%. The ETF has climbed 12% YTD, closely mirroring gold's price action.
VanEck Vectors Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>): Focuses on gold mining stocks and carries an expense ratio of 0.5%. The ETF has gained 23.5% YTD, benefiting from rising gold prices and improved miner profitability.
VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>): Targets smaller, high-growth mining firms. The ETF has surged 22.8% YTD as speculative interest in smaller miners has picked up.
Also Read: <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44331708/billionaire-hedge-funder-adds-mining-stocks-before-gold-makes-record-highs-gold-will-go-up-paulson-says">Billionaire Hedge Funder Adds Mining Stocks Before Gold Makes Record-Highs: &#8216;Gold Will Go Up,&#8217; Paulson Says</a>
<h1 class="wp-block-heading">Surging Gold ETF Inflows</h1>
Investor interest in gold ETFs is on the rise. The World Gold Council <a href="https://www.gold.org/goldhub/research/gold-etfs-holdings-and-flows/2025/03">reported </a>recently that global physically-backed gold ETFs saw $9.4 billion in inflows in February, the highest since March 2022. This marks three consecutive months of strong inflows, pushing total assets under management (AUM) to $306 billion. Holdings have also risen to 3,353 tonnes, the highest since July 2023. 
North American flows rebounded after two months of outflows, while Asian demand remained strong and European inflows narrowed. 
<h1 class="wp-block-heading">Why Is Gold Soaring?</h1>
Simply, economic uncertainty and geopolitical risks are driving gold's rally.
President Donald Trump's administration has reignited trade war fears by threatening tariffs. The <a href="https://www.benzinga.com/government/regulations/25/03/44308014/gold-hits-record-highs-as-trade-war-fears-fuel-safe-haven-demand-mining-stocks-soar">Atlanta Federal Reserve's GDPNow model projects</a> a 2.4% contraction for the U.S. economy in the first quarter of 2025, and JPMorgan raised the probability of a recession to 40%.
A key unknown factor is also influencing gold prices. 
"A large and unknown player is driving gold's recent rally," said Ross Norman, CEO of Metals Daily Ltd., speculating that this could explain the unusual movements in gold prices.
Macquarie Group analysts are bullish, forecasting gold at $3,500 per ounce by the third quarter. "We view gold's price strength to date, and our expectation for it to continue, as primarily being driven by investors' and official institutions' greater willingness to pay for its lack of credit or counterparty risk," Macquarie wrote.
With trade tensions, recession fears and global uncertainty, demand for gold, and naturally, gold ETFs, is expected to stay strong. As price targets rise, investors seeking a hedge against volatility may find gold ETFs a compelling option.
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Gold ETFs Shine As Spot Price Tops $3,000 During Safe-Haven Demand

Gold extended its rally on Friday, surging past the $3,000 mark in early trading, driven by escalating trade tensions, economic uncertainty, and expectations of a Federal Reserve rate cut.
Spot gold, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), traded at $3,004 per ounce at 7:30 a.m. ET, rising 1.78% and marking its third consecutive session of gains.
The VIX index, which is also known as the fear gauge, is up 63% in the last 12 months and up 39% year-to-date.
Related: <a target="_blank" href="https://www.benzinga.com/economics/macro-economic-events/25/03/44300810/us-producer-inflation-stalls-in-february-as-services-costs-drop-eggs-price-skyrockets" rel="noreferrer noopener">US Producer Inflation Stalls In February As Services Costs Drop, Egg Prices Skyrocket</a>
Rising recession risks, renewed trade war threats from former President Donald Trump, and unusual market dynamics fuel the rally. Analysts point to hidden buyers and increasing demand for safe-haven assets as key drivers.
Gold, which is also seen as a safe-haven asset, usually trades in an inverse relationship with the VIX. When the market experiences fear, the money moves in gold for safety.
February&#8217;s weaker-than-expected PPI and CPI reports <a target="_blank" href="https://www.benzinga.com/news/econ-s/25/03/44307019/latest-inflation-data-excludes-tariffs-trump-policy-changes-2025-will-be-much-more-volatile-year-economist-says" rel="noreferrer noopener">raised hopes for 2025 rate cuts</a>, but economists caution that rising tariffs and volatile food prices could challenge ongoing disinflation trends.
Experts warn that markets remain highly reactive to geopolitical developments, with inflation volatility, trade tensions, and shifting global alliances creating uncertainty about the economic path ahead.
Meanwhile, Bitcoin is <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/25/03/44314127/gold-hits-all-time-highs-while-bitcoin-disappoints-did-fed-chair-jerome-powell-jinx-the-digital-gold" rel="noreferrer noopener">underperforming</a> as gold surged to a record high, casting renewed doubts on its status as &#8220;digital gold.&#8221;
The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), which tracks the price of gold, rose 0.49% to $276.48 in the premarket. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rose 1.02% premarket, and The VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) gained 1.08%.
Mining Stocks Soar Premarket: Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) rose 1.71%, B2Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTG#NYSE">BTG</a>) up 0.69%, Kinross Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) +1.84%, Franco-Nevada Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>) up 0.71% and Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) rose 1.23%.
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<li><a href="https://www.benzinga.com//node/44280431" target="_blank" rel="noreferrer noopener">Inflation Moves In The &#8216;Right Direction&#8217; But Forecast Is Hazy, Economist Says</a></li>
</ul>
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Gold Breaches $3,000 Mark On Market Turbulence And Fed Signals

Gold's strong rise continues, with the precious metal hitting a fresh record on Thursday as investors rush to shield their portfolios from mounting trade<a href="https://www.benzinga.com/topic/tariffs"> tensions and economic uncertainty.</a>
Spot gold as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) traded at $2,969 per ounce at 10:52 a.m. ET, gaining 1.2% and marking its third consecutive session of gains. The metal surged 13% so far in 2025, outpacing every other major asset class.
The S&amp;P 500 — tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — is down 5.2%, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has lost 12% and the U.S. dollar index has slipped 4% year-to-date.
<h1 class="wp-block-heading">Why Is Gold Soaring?</h1>
Gold's rally is driven by a cocktail of economic and geopolitical risks. President Donald Trump's administration has reignited fears of a global trade war, by threatening countries with high tariffs. 
Meanwhile, signs of economic weakness are becoming more pronounced. The Atlanta Federal Reserve's GDPNow model projects a 2.4% contraction for the U.S. economy in the first quarter of 2025, while JPMorgan has raised its probability of a recession this year to 40%.
&#8220;A large and unknown player is driving gold's recent rally,&#8221; Ross Norman, CEO of Metals Daily Ltd. said. This could explain why the metal is defying normal trading patterns and pushing higher despite fluctuating bond yields and currency movements.
&#8220;As the trade war started by President Trump worsens, there is no wonder why gold continues to be one of the best-performing assets right now,&#8221; veteran market strategist Ed Yardeni said.
<h1 class="wp-block-heading">Where Does Gold Go From Here?</h1>
With risk aversion dominating sentiment, analysts are raising their gold price forecasts. Joni Teves of UBS Investment Bank, speaking on CNBC's &#8220;Squawk Box,&#8221; said, &#8220;Risk aversion created by the geopolitical landscape, particularly tariffs, is still going to work in favor of adding gold to the portfolio.&#8221; 
UBS expects gold to reach $3,100 per ounce by the end of the year.
Macquarie Group analysts are even more bullish, forecasting gold could hit $3,500 by the third quarter.
"We view gold's price strength to date, and our expectation for it to continue, as primarily being driven by investors' and official institutions' greater willingness to pay for its lack of credit or counterparty risk," the organization wrote.
<h1 class="wp-block-heading">Mining Stocks Soar On The Heels Of Gold Rally</h1>
The gold rally has breathed new life into mining stocks, though many remain well below past highs.
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) jumped 3.2% but is still trading 35% below its 2011 peak. The VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) also gained 3.2% but remains 70% below its 2010 record.
Among individual stocks, Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) climbed 5.1%, B2Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTG#NYSE">BTG</a>) advanced 4.8%, Kinross Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) added 3.8%, Franco-Nevada Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>) gained 3.1% and Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) rose 2.7%.
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44304426/from-magnificent-7-to-maleficent-7-goldman-sachs-slashes-year-end-sp-500-target">From &#8216;Magnificent 7&#8217; To &#8216;Maleficent 7,&#8217; Goldman Sachs Slashes Year-End S&amp;P 500 Target</a></li>
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Gold Hits Record Highs As Trade War Fears Fuel Safe-Haven Demand: Mining Stocks Soar

Source: <a href="https://www.streetwisereports.com/article/2025/02/04/is-a-junior-mining-bull-market-about-to-reignite.html?utm_medium=feed">John Newell 02/04/2025</a>
John Newell of John Newell &amp; Associates takes a look at the early-stage exploration market, which he believes is poised for a breakout.
For years, the junior mining sector has struggled under the weight of weak investor sentiment, low liquidity, and challenging financing conditions.
However, recent technical and fundamental indicators suggest a significant shift may be on the horizon. The early-stage exploration market &mdash; particularly in gold, silver, and base metals, appears poised for a breakout, and savvy investors are beginning to take notice.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/20252463042_1.png" style="height:857px; width:945px" />
The chart above shows the deep discount the CDNX Index has on the price of gold currently.
<h2>A Cyclical Powerhouse for Juniors</h2>
The TSX Venture Exchange (TSXV) has long served as the primary marketplace for small-cap mining, energy, and technology companies in Canada.
Unlike senior exchanges, it is highly sensitive to commodity cycles and investor sentiment.
Key Aspects of the TSXV:
<ul>
<li>Heavily Weighted Toward Junior Mining &mdash; Many of the companies listed on the TSXV are focused on gold, silver, copper, and other critical minerals exploration.</li>
<li>Highly Cyclical &mdash; The exchange has a history of extreme booms and busts, often following gold and base metals price trends.</li>
<li>Liquidity Challenges &mdash; Unlike major exchanges, the TSXV can experience low trading volumes, making capital raises more difficult during downturns.</li>
<li>Sentiment-Driven &mdash; The performance of the exchange often mirrors overall investor risk appetite. When speculation returns, the TSXV tends to move aggressively higher.</li>
</ul>
Right now, these factors are converging, and technical indicators suggest a breakout that could signal a long-overdue bull run for junior mining stocks.
<h2>Breaking Out After a Multi-Year Bottom</h2>
After nearly two years of consolidation and resistance at key technical levels, the junior mining sector is showing signs of a powerful reversal. A large inverse head-and-shoulders pattern, a classic bullish formation, has formed on the charts, suggesting that a breakout could be imminent.
Key Technical Signals:
<ul>
<li>Breakout from Long-Term Resistance (~650 level) &ndash; A move above this level indicates that investor sentiment is improving.</li>
<li>Bullish Chart Patterns (Inverse Head &amp; Shoulders / Cup &amp; Handle) &ndash; These classic setups suggest significant upside potential.</li>
<li>200-week Moving Average as Resistance. If this critical level is broken, a move toward 775 and beyond becomes likely.</li>
<li>MACD Turning Bullish &mdash; A rising momentum indicator points to increasing buying interest.</li>
<li>Volume Increasing &mdash; A surge in trading volume would confirm institutional interest, making the rally more sustainable.</li>
</ul>
Potential Upside Targets:
Technical targets suggest . . .
<ul>
<li>First target 775 &mdash; after an Initial breakout level.</li>
<li>Second target 1325 &mdash; older highs could be some Major historical resistance.</li>
<li>Third target 1480 &mdash; Long-term target from the previous bull cycle.</li>
</ul>
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/20252463112_2.png" style="height:857px; width:953px" />
<h2>What This Means for Junior Mining Companies</h2>
A bullish move in the junior mining sector has profound implications for companies that have been struggling to raise capital. The last few years have been brutal for exploration-stage firms, with many trading at depressed valuations despite holding world-class assets.
However, history suggests that when sentiment shifts, capital floods back into the space.
Key Takeaways:
<ul>
<li>Better Access to Financing: A rising market means junior explorers can raise money at better valuations, reducing dilution.</li>
<li>Gold Surge as a Catalyst: With gold prices threatening to break $3,000/oz and beyond, the macro backdrop strongly favors exploration companies.</li>
<li>Increased M&amp;A Activity: When junior companies start re-rating, mid-tier and major miners become aggressive in acquiring high-quality assets.</li>
<li>A Perfect Environment for New Discoveries: Higher stock prices provide more funding for exploration drilling, leading to potential new discoveries that can further drive share prices.</li>
</ul>
<h2>Positioning for the Next Junior Mining Boom</h2>
For companies like West Red Lake Gold Mines Inc. (WRLG:TSX.V; WRLGF:OTCQB), which are already in the heart of major mining districts like Red Lake, Ontario, this environment presents a once-in-a-decade opportunity.
Investors who understand the cyclical nature of the TSXV and commodity markets recognize that the best time to position for a bull market is before the breakout happens.
With the right combination of strong technical indicators, increasing precious metal and base metal prices, and renewed investor interest, 2025 could mark the beginning of an explosive rally for junior mining stocks.
The window for securing strategic financing and attracting institutional investors may be opening right now.
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Important Disclosures:
<ol>
<li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of West Red Lake Gold Mines Inc.</li>
<li>John Newell: I determined which companies would be included in this article based on my research and understanding of the sector.</li>
<li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.</li>
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John Newell Disclaimer
As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it&#39;s advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.
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( Companies Mentioned: WRLG:TSX.V; WRLGF:OTCQB, )

Is a Junior Mining Bull Market About to Reignite?

Gold surged past $2,790 in Thursday morning trading, setting a new all-time high after eclipsing its late October 2024 peak. Central bank actions and rising demand for safe-haven assets <a href="https://www.benzinga.com/markets">fueled the metal's climb.</a>
Several major central banks have signaled a more dovish stance on inflation in recent hours, leading speculators to anticipate lower borrowing costs ahead—providing further support for gold prices. 
Furthermore, speculation over higher U.S. tariffs is leading to greater demand for gold by central banks, with disruptions affecting trading in London.
<h3 class="wp-block-heading">Fed Holds Steady, While Other Major Central Banks Ease Borrowing Costs</h3>
The Federal Reserve held interest rates steady on Wednesday and refrained from offering clear guidance on future moves. 
Yet, Fed Chair Jerome Powell struck a noticeably less hawkish tone compared to his stance in December.
Powell welcomed the latest inflation readings for January and did not rule out the possibility of rate cuts, stating that weaker labor market conditions or faster-than-expected disinflation could justify easing monetary policy.
Powell further stated that interest rates remain &#8220;meaningfully above neutral,&#8221; suggesting there is room for potential cuts.
&#8220;We remain comfortable with our forecast that the FOMC will deliver two more 25bp cuts in June and December this year and one more in 2026,&#8221; Goldman Sachs economist David Mericle wrote in a note Thursday. 
Market-based expectations continue to point toward two additional Fed rate cuts by the end of 2025, with the first move likely coming in June. 
On Wednesday, the Bank of Canada announced a 25-basis-point rate cut to 3%, citing inflation's broad convergence toward the 2% target. Policymakers also noted the potential negative economic effects of rising U.S. trade tariffs.
The BoC further announced the end of quantitative tightening and plans to restart asset purchases in early March to support liquidity and economic activity. 
On Thursday, <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43336153/us-economy-grows-below-q4-estimates-as-consumer-spending-hits-7-quarter-high">U.S. GDP growth for the fourth quarter of 2024</a> came in at 2.3%, missing the 2.6% consensus estimate. 
The same day, both the <a href="https://www.benzinga.com/government/regulations/25/01/43340971/ecb-cuts-interest-rates-by-25-basis-points-as-economy-cools-lagarde-rejects-bitcoin-as-reserve-asset">European Central Bank</a> and Sweden's Riksbank also announced rate cuts.
<h3 class="wp-block-heading">Gold Miners Rally, Central Banks Rush To Gold In London</h3>
Rising gold prices are fueling a rally among metal miners during Thursday trading.
The widely followed VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rallied 4.2% reaching levels last seen in early November 2024. Junior miners, as tracked by the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>), were similarly up by 4.1%. 
In a seminar last week, VanEck portfolio manager Imaru Casanova indicated that central banks are rushing to buy gold. 
"Central banks are emerging as a key demand driver for gold prices," she said. 
As reported by Reuters, gold traders in London are scrambling to borrow bullion from central banks as shipments to the U.S. surge amid speculation of potential import tariffs. 
The Bank of England, which stores gold for central banks, is experiencing delays of up to four weeks for withdrawals—far longer than the usual few days.
The rush is driven by traders hedging risks on COMEX and capitalizing on a price premium between U.S. futures and London spot prices. 
Former Koch Supply &amp; Trading executive Robert Gottlieb told Reuters that the BoE is struggling to handle the increased borrowing requests.
Mining stocks showing a notable surge on Thursday include:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-day Return</td>
</tr>
<tr>
<td>Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>)</td>
<td>8.18%</td>
</tr>
<tr>
<td>MAG Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAG#NYSE">MAG</a>)</td>
<td>7.67%</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>7.15%</td>
</tr>
<tr>
<td>Fortuna Mining Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSM#NYSE">FSM</a>)</td>
<td>6.96%</td>
</tr>
<tr>
<td>SilverCrest Metals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SILV#NYSE">SILV</a>)</td>
<td>6.72%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43318325/a-different-powell-emerges-fed-chair-softens-hawkish-tone-on-interest-rates-bitcoin">A Different Powell Emerges: Fed Chair Softens Hawkish Tone On Interest Rates, Bitcoin</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Eurozone

Federal Reserve

SILV

Gold Hits Record High As Central Banks Ease Stance: 5 Mining Stocks Rally

As metals markets weather volatility, optimism for a &#8220;V-shaped recovery&#8221; is gaining traction. JPMorgan analysts Dominic O&#8217;Kane and Patrick Jones suggest <a href="https://www.benzinga.com/markets/asia/24/12/42692036/billionaire-investors-michael-burry-david-tepper-could-benefit-from-chinas-stimulus-measures">China's expected fiscal stimulus</a> could be the turning point for the sector. 
With metal prices poised for a rebound, they urge investors to &#8220;accumulate positions in oversold miners&#8221; like Anglo American PLC (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTCQX">NGLOY</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/AAUKF#OTCQX">AAUKF</a>), First Quantum Minerals Ltd (OTCPK:FQVLF) and Lundin Mining Corp (OTCPK:LUNMF).
Exchange-traded funds like the SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>), the iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>) provide diversified exposure to the metals and mining sector.
<h2 class="wp-block-heading">Mining Stocks Set For Revival?</h2>
The 17% decline in European metals &amp; mining stocks since late September 2024 reflects market caution amid tariff risks and US$/CNY devaluation. However, analysts see this downturn as an opportunity for strategic investment. Anglo American faces near-term challenges, including $2 billion in impairments and delays in its diamond divestment strategy. Despite this, the company may emerge as an M&amp;A target post the Anglo Platinum de-merger.
Lundin Mining and Norsk Hydro ASA (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NHYDY#OTCQX">NHYDY</a>) stand out as resilient picks, with strong fundamentals that may help them weather tariff-related uncertainties. 
Analysts maintain a positive outlook on these names, expecting them to benefit from the broader market recovery.
Read Also: <a href="https://www.benzinga.com/markets/commodities/24/12/42455382/gold-to-shine-bright-in-2025-as-top-investment-bank-predicts-bullish-outlook-amid-trade-tensions">Gold To Shine Bright In 2025 As Top Investment Bank Predicts Bullish Outlook Amid Trade Tensions</a>
<h2 class="wp-block-heading">Gold Stocks Shine Amid Market Turbulence</h2>
Gold continues to prove its mettle as a safe-haven asset, with prices projected to rise to $2,100 per ounce. 
Stocks like AngloGold Ashanti PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>), Hochschild Mining PLC (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/HCHDF#OTCQX">HCHDF</a>), and Fresnillo PLC (OTCPK:FNLPF) remain key picks by the analysts, supported by strong silver production forecasts and rising demand for precious metals.
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) and the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) are popular ways to get exposure to gold miners&#8217; stocks.
The analysts highlight Fresnillo's silver production strength, placing it on a Positive Catalyst Watch.
<h2 class="wp-block-heading">China's Stimulus: The Tipping Point?</h2>
All eyes are on the March 5 National People&#8217;s Congress, where China is expected to announce fiscal measures that could fuel a surge in metal prices. 
The analysts believe these moves could trigger a sharp market recovery, solidifying the case for accumulating positions in mining stocks before a potential uptrend.
<h2 class="wp-block-heading">The Takeaway</h2>
As metals markets teeter on the edge of revival, accumulating oversold miners may offer strategic value ahead of a &#8220;V-shaped recovery.&#8221; 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/01/42986605/exclusive-energy-semiconductors-could-dominate-portfolios-in-2025-says-direxion-ceo" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Energy, Semiconductors Could Dominate Portfolios In 2025, Says Direxion CEO</a></li>
</ul>
Image created using photos from Shutterstock.

Asia

Long Ideas

Analyst Ratings

AAUKF

FNLPF

FQVLF

HCHDF

LUNMF

NGLOY

NHYDY

PICK

Will Gold, Mining Stocks Ride A 'V-Shaped Recovery'? Analysts Say Accumulate 'Oversold Miners'

At the beginning of 2024, Benzinga noted <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/01/36452207/4-mining-stocks-to-watch-in-2024-aura-oceanagold-alphamin-b2gold" rel="noreferrer noopener">four mining stocks</a> to follow while evaluating tailwinds like green tech demand and persistent inflation. Although gold, as a benchmark, has had one of the best years on record, outperforming even the surging equities market, miners delivered mixed results.
<h3 class="wp-block-heading">Aura Minerals</h3>
Aura Minerals (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/ORAAF#OTCQX">ORAAF</a>) is a gold and copper miner focused on Central and South America, with primary operations in Brazil, Mexico, and Honduras. During 2024, the company made notable asset acquisitions, obtaining rights to explore Pé Quente and Pezão projects to boost its reserves. The company also acquired Bluestone Resources, a junior miner with a promising high-grade gold deposit in Guatemala.
The company recently reported its second-best quarter by adjusted EBITDA and decreased all-in-sustained costs to $1,292/ounce. The stock was a strong performer, rising 85% year-to-date.
<h3 class="wp-block-heading">OceanaGold</h3>
OceanaGold (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OCANF#OTC">OCANF</a>) is a mid-tier gold and copper producer with production in New Zealand, the Philippines, and the United States. It originally started as Macraes Mining Company, named after the foundation asset in New Zealand, which produced over 5 million ounces of gold since 1990. During 2024, the company focused on advancing the Didipio gold and copper project in the Philippines and providing initial mineral reserves for the proposed Wharekirauponga gold mine in New Zealand of 1.2 million ounces, with a projected IRR of 24% at a gold price of $2,400 per ounce.
Per the latest earnings, the company increased quarterly production from all sites, achieving a net profit of $61 million and boosting cash reserves. Since the beginning of the year, the stock rose 60.4%.
<h3 class="wp-block-heading">Alphamin Resources</h3>
Alphamin Resources (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AFMJF#OTC">AFMJF</a>) is a miner focused on producing tin, a critical mineral used for metal coating and the production of superconducting magnets. The company's principal project is the Bisie mine, the world's highest-grade tin mine.
In 2024, Alphamin achieved record quarterly tin production, in excess of 4,000 tons, staying on track to its production target of 20,000 tons annually. For the next growth step, the firm plans to connect its mining sites to have one producing unit feeding two processing facilities. Management estimates they could scale up output to 25,000 tons. The last drill campaign added 175,000 tons of reserves. Alphamin's stock returned 21.1% year-to-date.
<h3 class="wp-block-heading">B2Gold</h3>
B2Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BTG#AMEX">BTG</a>) is a mid-tier mining company operating mines in emerging markets and exploration activities in more stable jurisdictions like Canada and Finland. The company's principal asset is the Fekola mine in Mali, with an annual production exceeding 500,000 ounces. Its other operating assets include Masabe in the Philippines and Otjikoto in Namibia.B2Gold had a volatile year, as <a target="_blank" href="https://www.benzinga.com/news/guidance/24/12/42516175/barrick-warns-about-destabilization-in-mali-could-halt-one-of-its-largest-mines" rel="noreferrer noopener">escalating instability in Mali</a> resulted in the off-site deaths of multiple employees and an increasingly complex situation with the ruling military junta. Furthermore, the higher-than-anticipated capital costs for a project in northern Canada have weighed on financials. Owing to these setbacks, B2Gold has lost 14.4% year-to-date.
As of December 20, VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) returned 16.67% year-to-date.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42628973/billionaire-investor-bullish-on-gold-miners-including-this-penny-stock" target="_blank" rel="noreferrer noopener">Billionaire John Paulson Bullish On Gold Miners, Including This Penny Stock</a></li>
</ul>
Image via Shutterstock

AFMJF

OCANF

ORAAF

Reviewing Benzinga's Mining Watchlist For 2024

As the global commodity market braces for a challenging 2025,&nbsp;ING Group NV&nbsp;forecasts a bullish outlook for gold amid potential trade tensions between the U.S. and China.
What Happened: ING Group NV&nbsp;anticipates a difficult year for commodities in 2025, driven by possible trade tensions between the United States and China. Despite this, gold is expected to maintain its status as a safe haven, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-12/gold-will-shine-in-bearish-year-ahead-for-commodities-ing-says">reported</a> on Thursday.
The report indicates that President-elect&nbsp;Donald Trump&#8216;s proposed tariffs could disrupt markets, impacting oil, metals, and agriculture. Traders are also monitoring China&#8217;s stimulus measures, which could affect consumption.&nbsp;Warren Patterson&nbsp;and&nbsp;Ewa Manthey&nbsp;from ING noted that the commodity sector might face downward pressure with balanced supply and demand.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a> 
Gold is projected to continue its record-breaking trend,&nbsp;with prices averaging $2,760 an&nbsp;ounce in 2025. Central banks are likely to drive demand as they diversify reserves amid geopolitical tensions.&nbsp;The outlook for industrial metals&nbsp;remains uncertain, with factors like trade policies and Chinese demand influencing prices. Copper is predicted&nbsp;to average $8,900 a ton, while grains and soft commodities face volatility due to trade disputes and weather concerns.
Why It Matters: The anticipated performance of gold aligns with earlier <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41810728/jpmorgan-predicts-strong-performance-for-bitcoin-and-gold-under-trump-presidency">predictions by&nbsp;JPMorgan</a>, which foresaw significant gains for both Bitcoin and gold following Trump&#8217;s presidential win. This is attributed to a &#8220;debasement trade,&#8221; where assets like gold are seen as reliable stores of value amid currency devaluation.
Despite the chaotic metals market post-Trump&#8217;s re-election,&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41877899/trump-re-election-jolts-metals-market-as-gold-sees-a-stumble-not-a-sea-change">JPMorgan&#8217;s Commodities Research team</a>&nbsp;emphasized that gold&#8217;s recent fluctuations are merely a &#8220;stumble, not a sea change.&#8221; Meanwhile, some voices, like&nbsp;Michael Saylor, advocate for a <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42413650/michael-saylor-urges-us-to-ditch-gold-for-bitcoin-sell-the-past-own-the-future">shift towards Bitcoin</a>, labeling gold as outdated. However, gold&#8217;s enduring appeal as a safe haven remains significant amidst geopolitical uncertainties.
Price Action: According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, Gold ETFs have been experiencing an upward tick after Trump&#8217;s win in the 2024 elections. SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) increased by 4.54% while iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) rose by 4.52%. VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) witnessed an 8.25% rise in the past month while VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) rose by 10.57%.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

General

Gold To Shine Bright In 2025 As Top Investment Bank Predicts Bullish Outlook Amid Trade Tensions

Gold prices are nearing the $3,000 per ounce mark, signaling a potential shift in global economic dynamics. Economist Mohamed El-Erian has emphasized the significance of this trend.
What Happened: El-Erian urged the U.S. to take notice and pointed out that gold&#8217;s price has surged nearly 40% over the past year, reaching $2,715 per ounce, in an <a href="https://www.ft.com/content/b5fb1e6b-bb8d-4ab5-9c92-f1f6fc40a54b">op-ed </a>for the Financial Times. This increase has defied traditional economic influences such as interest rates and inflation. The rise is largely due to countries like China and other &#8220;middle power&#8221; nations diversifying their reserves away from the U.S. dollar.
See Also: <a href="https://www.benzinga.com/insights/options/24/10/41411253/palantir-technologies-unusual-options-activity?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir Technologies Unusual Options Activity</a>
Foreign central banks&#8217; consistent gold purchases have bolstered its strength, reflecting a broader loss of confidence in the U.S.&#8217;s management of the global order. This includes the use of trade tariffs and investment sanctions. 
El-Erian warns, &#8220;As it develops deeper roots, this risks materially fragmenting the global system and eroding the international influence of the dollar and the US financial system. That would have an impact on the U.S.'s ability to inform and influence outcomes, and undermine its national security.&#8221;
He advises Western governments to closely monitor this evolving situation due to its implications for national security and global economic stability.
Why It Matters: The recent surge in gold prices coincides with a period of uncertainty in the U.S. markets. On Oct. 17, gold reached a <a href="https://www.benzinga.com/markets/asia/24/10/41398733/gold-surges-past-2-700-to-record-high-asia-and-europe-markets-in-green-global-markets-today-while-us">record high of $2,696 </a>per ounce amid U.S. election uncertainties. Despite mixed quarterly earnings, strong retail sales and positive economic data sustained market optimism.
Furthermore, a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41390144/gold-could-reach-3-000-by-2025-bank-of-america-analyst-says-ultimate-perceived-safe">Bank of America</a> analyst has projected that gold could reach $3,000 by 2025, highlighting its status as the &#8220;ultimate perceived safe haven&#8221; amid concerns over U.S. fiscal policies. Despite rising U.S. Treasury yields, gold prices have continued to climb, supported by these factors.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, gold ETFs were mostly trading higher during Monday&#8217;s pre-market. VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) was up by 1.04%, VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) was up by 1.65%, ProShares Ultra Gold (UGL) was trading 1.34% higher. However, VanEck Merk Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUNZ#NYSE">OUNZ</a>) was trading 0.70% lower. 
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Image via Unsplash
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

OUNZ

Gold's Race To $3,000: Mohamed El-Erian Says US And Other Western Nations Can't Afford To Ignore It

Gold is back in the spotlight, and eyes are on the Fed. As the U.S. Federal Reserve prepares for what could be an aggressive rate cut, gold ETFs, especially the gold-bullion tracking ETFs such as the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) and the iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), are <a href="https://www.benzinga.com/topic/gold">riding the wave</a>.
Gold prices, already hovering near record highs, are inching closer to a breakthrough that could send the precious metal into uncharted territory.
With the dollar softening, the allure of gold as a safe haven has only intensified. Year-to-date, the GLD has surged nearly 25% and the IAU has gained about 25%, outpacing broader market indices like the S&amp;P 500 (which is up 18% in comparison). While physical gold-tracking ETFs have been surging, ETFs tracking gold miners haven&#8217;t been left behind.
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) is up about 27% YTD and the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) is up 28% YTD.
<h1 class="wp-block-heading">Gold Shines on Dovish Fed, Weaker Dollar</h1>
Investors seem unfazed by today's slight lull in prices — understandable, given the anticipation of a possible 50-basis-point rate cut. The weakening dollar, compounded by the Fed&#8217;s dovish tone, is creating the perfect storm for gold to shine even brighter.
Behind the scenes, central banks and institutional buyers have been steadily piling into gold, boosting its momentum. Over the past three months, gold-tracking ETFs have drawn in billions in inflows, with retail investors now jumping on board, hoping to capitalize on the metal's momentum.
The net inflows into these ETFs signal that many see more upside ahead, especially as the Fed's anticipated rate cuts could push yields lower, further reducing the opportunity cost of holding gold.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/40862122/rate-cut-prospects-fuel-investor-risk-appetite-gold-hits-record-highs-harris-outperforms-trump-t">Rate-Cut Prospects Fuel Investor Risk Appetite, Gold Hits Record Highs, Harris Outperforms Trump: This Week In The Markets</a>
<h1 class="wp-block-heading">Gold Emerging As A Preferred Hedge</h1>
The macroeconomic backdrop has added extra fuel to the rally. From rising geopolitical tensions to global economic uncertainties, investors are seeking shelter, and gold is emerging as their preferred hedge. The metal's safe-haven appeal is being bolstered by fears of economic slowdowns, not just in the U.S. but globally. 
China's persistent economic struggles, for example, are only adding to the demand for gold, as investors diversify away from riskier assets.
<h1 class="wp-block-heading">What Could Temper Gold Bulls?</h1>
While a rate cut seems all but certain, there are still factors that could keep a lid on gold's upside. Any sign of a more conservative move by the Fed, such as a smaller-than-expected cut, could temper bullish enthusiasm. 
There's also the possibility that stronger-than-expected economic data could boost the dollar, muting gold's rally.
For now, though, the combination of central bank buying, ETF inflows and weakening dollar dynamics makes gold an attractive option for those looking to ride out market volatility.
With the potential for gold to push through its previous highs, investors are watching closely to see if the Fed's next move will give the precious metal the final nudge it needs.
Will gold soar to new heights, or will a more cautious Fed decision put the brakes on the rally? The only thing certain is that, for now, gold is shining brighter than ever.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40891378/ahead-of-fomc-meeting-paul-krugman-says-fed-rates-will-be-elevated-even-with-50-bps">Ahead Of FOMC Meeting Paul Krugman Says Fed Rates Will Be Elevated Even With 50 Bps Cut: &#8216;Argument For Incrementalism Is Very Weak&#8217;</a></li>
</ul>
Photo: Shutterstock

Gold ETFs Poised For Liftoff: Can The Fed's Rate Cut Propel Prices To New Heights?

The momentum in gold&#8217;s recent rally has lost much of its shine, <a href="https://www.benzinga.com/topic/gold">with the precious metal</a> unable to reach new record highs since Aug. 20, as U.S. Treasury yields stabilize and the dollar rebounds.
On Wednesday, gold traded at $2,505 per ounce, down 0.8% for the day, poised to break a<a href="https://www.benzinga.com/markets/commodities"> three-session winning streak.</a>
The dollar's recent surge, driven by positive catalysts, appears to be fading, prompting traders to take profits and reduce exposure to gold.
 Rate-cut expectations have not seen significant improvement, with speculators fully pricing in a September rate cut but assigning a 65% probability to a smaller 25-basis-point reduction, compared to 35% for a 50-basis-point cut, according to the CME FedWatch tool.
As the Federal Reserve&#8217;s rate cut expectations remained largely unchanged, Treasury yields stabilized, with the 10-year yield trading at 3.83% on Wednesday. Despite falling 67 basis points since early July, the yield hasn&#8217;t dropped below 3.75% since earlier this month, when a volatility event caused wild swings in equity and fixed income markets.
Geopolitical tensions in the Middle East, which have historically boosted safe-haven assets like gold, did not escalate into a broader conflict after recent exchanges between Israel and Hezbollah. This de-escalation has further diminished gold&#8217;s appeal.
The U.S. dollar index (DXY) was up 0.4% Wednesday, after closing Tuesday at the lowest levels since July 2023.
<h3 class="wp-block-heading">Wednesday&#8217;s Pullbacks In Gold Mining Stocks</h3>
The dip in gold prices has led to a more significant decline in gold mining stocks. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) and the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) both fell by 2.5%.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>1-day return (%)</td>
</tr>
<tr>
<td>Torex Gold Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXG#NYSE">TXG</a>)</td>
<td>-4.89%</td>
</tr>
<tr>
<td>Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>)</td>
<td>-4.75</td>
</tr>
<tr>
<td>First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>)</td>
<td>-4.63</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>-4.56</td>
</tr>
<tr>
<td>OceanaGold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGC#NYSE">OGC</a>)</td>
<td>-4.47</td>
</tr>
<tr>
<td>Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>)</td>
<td>-4.41</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/24/08/40600134/investors-funnel-2-2b-into-these-5-real-estate-etfs-in-anticipation-of-fed-rate-cuts">Investors Funnel $2.2B Into These 5 Real Estate ETFs In Anticipation Of Fed Rate Cuts</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Bonds

Treasuries

PAAS

Gold Rally Loses Steam As Treasury Yields Stabilize, Dollar Rebounds: 6 Miner Stocks See Declines On Wednesday

Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), the world&#8217;s largest gold miner, saw its share price spike 13% on Thursday after the Denver-based company posted <a href="https://www.benzinga.com/news/earnings/24/04/38438315/why-gold-miner-newmont-shares-are-surging-today">stronger-than-expected earnings</a>.
This ignited a broad-based rally in the gold mining industry, despite the overall <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38439796/stocks-drop-tech-tumbles-with-metas-weak-outlook-q1-stagflation-fears-gold-miners-advance-">weak investor sentiment elsewhere.</a>
Newmont is currently on track to achieve its best-performing session since April 2020, when the mining giant rallied following a major volatility event due to the Covid-19 pandemic.
Chart: Newmont Eyes Top-Performing Session Since April 2020
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25132249/image-216-1024x495.png" alt="" class="wp-image-309347" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25132249/image-216-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25132249/image-216-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25132249/image-216-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25132249/image-216-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25132249/image-216.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Newmont Sharply Beats Estimates, Declares First Quarter Dividend</h3>
<ul>
<li>Newmont reported earnings per share (EPS) of $0.55 in Q1 2024, marking a 38% increase from the corresponding quarter of the previous year and surpassing Street&#8217;s consensus estimates of $0.36 by a significant 54%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro platform</a>. </li>
<li>Revenue for the quarter amounted to $4.02 billion, indicating a 50% rise from Q1 2023 and surpassing forecasts of $3.66 billion by a noteworthy 10% margin.</li>
<li>Newmont delivered $288 million in dividends to shareholders and declared a dividend of $0.25 per share of common stock for the first quarter of 2024.</li>
<li>Newmont reported gold Costs Applicable to Sales (CAS) per ounce of $1,057 and gold All-In Sustaining Costs (AISC) per ounce of $1,439, both notably lower than the average realized gold price of $2,090 per ounce. This stark contrast indicates wide profit margins for the company.</li>
<li>&#8220;Newmont delivered a strong first quarter operational performance, producing 2.2 million gold equivalent ounces and generating over $1.4 billion in cash from operations before working capital changes,&#8221; Tom Palmer, Newmont&#8217;s president and CEO, stated. </li>
</ul>
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38438315/why-gold-miner-newmont-shares-are-surging-today">Why Gold Miner Newmont Shares Are Surging Today</a>
<h3 class="wp-block-heading">Gold Miners Rally In Response To Newmont&#8217;s Results</h3>
Newmont&#8217;s remarkable Q1 earnings report catalyzed a significant rally in gold mining stocks, drawing investors to the industry in anticipation of potentially positive results from other players.
Additionally, miners showed a positive response to the rise in gold prices, with the precious metal gaining 0.7% to $2,330 per ounce, buoyed by escalating stagflationary worries triggered by the latest <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss">gross domestic product report.</a>
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rose 3.1%, while junior gold miners, as tracked by the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) rose 1.8%. 
The top-performing North American gold miners on Thursday included:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day %</td>
<td>Market Cap</td>
</tr>
<tr>
<td>Newmont Corporation</td>
<td>13.06%</td>
<td>$ 50.54B</td>
</tr>
<tr>
<td>Buenaventura Mining Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>)</td>
<td>6.75%</td>
<td>$ 4.30B</td>
</tr>
<tr>
<td>DRDGOLD Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRD#NYSE">DRD</a>)</td>
<td>4.73%</td>
<td>$ 705.14м</td>
</tr>
<tr>
<td>AngloGold Ashanti plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>)</td>
<td>4.29%</td>
<td>$ 9.57B</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>3.52%</td>
<td>$ 1.88B</td>
</tr>
<tr>
<td>K92 Mining Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNT#NYSE">KNT</a>)</td>
<td>2.69%</td>
<td>$ 1.31B</td>
</tr>
<tr>
<td>OceanaGold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGC#NYSE">OGC</a>)</td>
<td>2.31%</td>
<td>$ 1.61B</td>
</tr>
<tr>
<td>Calibre Mining Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXB#NYSE">CXB</a>)</td>
<td>2.19%</td>
<td>$ 1.07B</td>
</tr>
<tr>
<td>Royal Gold, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NYSE">RGLD</a>)</td>
<td>1.91%</td>
<td>$ 8.12B</td>
</tr>
<tr>
<td>Agnico Eagle Mines Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>)</td>
<td>1.90%</td>
<td>$ 32.36B</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:45 p.m. EDT </figcaption></figure>
Now Read: <a href="https://www.benzinga.com/m-a/24/04/38405991/equinox-gold-snaps-up-greenstone-gold-mines-for-995m-in-incredibly-rare-deal">Equinox Gold Snaps Up Greenstone Gold Mines For $995M In &#8216;Incredibly Rare&#8217; Deal</a>
Image: Shutterstock

Macro Notification

RGLD

Gold Glitters On Stagflation Tailwinds: Newmont Soars 13% In Biggest Post-Covid Gain, Leads Mining Sector Surge

Penny Stocks

GGLDF

Silver and Gold: The Winning Bet

TORONTO—It looks like the good mood among <a href="https://www.benzinga.com/etfs/sector-etfs/24/03/37994542/gold-prices-rise-to-all-time-highs-mark-best-month-in-4-years-mining-stocks-rally-as-traders-ant">gold miners</a> at last month's&nbsp;Prospectors &amp; Developers Association of Canada&nbsp;gathering was warranted.
Gold prices <a href="https://www.benzinga.com/news/large-cap/24/04/38117669/gold-shines-above-2-300-ends-another-week-at-record-high-mining-stocks-rally-to-11-month-peak">notched another record</a> above $2,300 on Friday, roughly a month after thousands of mining executives, analysts, financiers and investment bankers gathered in Toronto for the yearly conference and trade show.
At that time, gold was trading around $2,100 but was on its way higher amid expectations that the Federal Reserve will lower interest rates. Lower rates make non-interest-bearing gold more attractive. The precious metal has also gained ground amid worries over China's economy and tensions surrounding the war in Ukraine and the escalating conflict in the Middle East. Gold is often considered a safe haven in times of economic or political uncertainty.
Although gold mining stocks in general have been gaining ground, the industry is still lagging because of higher production costs. This suggests that if gold prices remain higher, mining stocks may play catch up, especially if inflationary pressures ease.
Gold prices are up around 13% so far this year, but as of Friday&#8217;s close the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) was up less than 11%. The VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) is closer, with a 12.55% gain.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37904601/global-mining-industry-faces-trust-deficit-despite-being-asked-to-produce-more-meta">Global Mining Industry Faces &#8216;Trust Deficit&#8217; Despite Being Asked To Produce More Metals For Energy Transition</a>
During the Toronto trade show in early March, gold mining companies were already celebrating gold's ascent as they pitched investors. They're undoubtedly celebrating more now.
Here are some thoughts from their pitches.
Alamos Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>): The presentation from Scott Parsons, senior vice president of investor relations for intermediate gold producer <a href="https://www.benzinga.com/m-a/24/03/37964057/alamos-gold-acquires-argonaut-gold-shareholders-look-toward-synergies">Alamos Gold</a> seemed particularly prescient.
As he was speaking, gold was just shy of all-time highs, and Parson's said he expected to see record gold prices in the second half of this year. His prediction came true early.
He saw several factors underpinning gold, including rising government debt levels, significant deficits and rising debt service costs. Also, he saw central bank easing on the horizon and rising geopolitical risks.
Gold Royalty Corp. (NYSEAMERICAN: GROY): One way to invest in gold equities without the drag of rising costs is through royalty or streaming stocks. These companies provide miners with upfront financing in exchange for revenue or metal eventually produced from a mine.&nbsp;
<a href="https://www.benzinga.com/news/earnings/24/03/37996542/gold-royalty-projects-revenue-to-double-universal-stainless-sees-record-sales-atlas-lithium-gets-30">Gold Royalty</a> chief financial officer Andrew&nbsp;Gubbels noted in his presentation that the company doesn't have any exposure to operating or capital cost inflation.
"We think it's a better way to invest in gold," he said.
NovaGold Resources Inc. (NYSEAMERICAN: NG): Richard Williams, chief operating officer of NovaGold, said his company is "highly leveraged" to the gold price.
"We have definitely been glad the gold price is going up," he said.
That's understandable because the stock needs a turnaround. Although shares have been rising over the past month as gold has climbed sharply, NovaGold is still down around 16% year to date.&nbsp;
The stock has been under pressure over concerns about its Donlin project in Alaska, which it owns with Barrick Gold Corp. (GOLD). NovaGold wants to update its feasibility study but Barrick wants to continue exploratory drilling.
Equinox Gold Corp. (NYSEAMERICAN: EQX): "High gold prices are good for everybody" in the gold mining industry, said Rhylin Bailie, vice president of investor relations with Equinox Gold.
Prior to a recent run up, the company's stock wasn't doing as well as it should because it is working on a capital intensive project in Ontario, Canada, she said. Two other projects in the province that are not Equinox's have seen higher capex than expected, and investors assumed that would happen with Greenstone, she said.
But the company says the project is on budget and on track with its time schedule.
"We are going to be pouring gold during the first half of the year as promised," Bailie said.
Western Exploration Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/WEXPF#OTC">WEXPF</a>): "Welcome to $2,100 gold," Darcy Marud, CEO of Western Exploration, said in his presentation in early March. "That should put a smile on everybody's face."
It seems the grins are continuing.
At some point, because of the nature of all commodities, gold prices will fall back. That could come from trading consolidation or news that reduces the chances that the Federal Reserve will lower interest rates. Easing tensions in the Middle East or Ukraine could also take some of the shine off.
Over the long run, the precious metal is still seen by many as holding its value and playing a defensive role in portfolios.
"Gold weathers all price environments," Marud said.
Gold Terra Resource Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/YGTFF#OTC">YGTFF</a>): Even though gold prices are traveling higher, financing for gold exploration continues to lag, including in Canada, one of the world's most prolific mining jurisdictions.
"Investing in exploration is dying," said Gerald Panneton, CEO of of Gold Terra. "Yellowknife has probably been underexplored for 20 years."
That's the area in Canada's Northwest Territories where Gold Terra is exploring below the underground workings of a mine that was closed in 2003 when much lower gold prices made it unprofitable.
The plan for 2024 is to "drill, drill, drill,"&nbsp;Panneton said. "We'd like to do 10,000 meters."
But the current financing market doesn't allow for that much, he said.
In January, gold financings dropped to $72 million, marking their lowest point in five years,&nbsp;according&nbsp;to S&amp;P Global Market Intelligence. Last month, gold financings rebounded to $198 million, ending a three-month losing streak but remaining relatively low compared with most monthly results over 2022 and 2023, the data provider said.
Now Read: <a href="https://www.benzinga.com/markets/commodities/24/04/38111351/exclusive-key-indicator-may-flip-global-economic-forecasts-copper-is-beginning-to-define-its-">EXCLUSIVE &#8211; Key Indicator May Flip Global Economic Forecasts — &#8216;Copper Is Beginning To Define Its Own Narrative&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to&nbsp;<a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a>&nbsp;to get started!

Politics

GROY

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YGTFF

Mining Executives Weigh In On Gold Prices, Financing, Projects: 'We're Definitely Glad'

Gold prices surged past $2,220 an ounce during Thursday&#8217;s New York trading session, achieving a new all-time high amid growing anticipation of coordinated interest rate reductions <a href="https://www.benzinga.com/topic/interest-rates">by major central banks. </a>
With an 8.5% increase in March 2024, this marks gold&#8217;s best monthly performance since July 2020, when it climbed 10.8% amid substantial monetary and fiscal stimulus efforts during the COVID-19 pandemic.
The robust surge in gold prices has lifted the values of gold mining companies, with the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) climbing about 20% for the month, marking its best monthly performance since November 2020.
Medium-term debt dynamics in Europe and the U.S., alongside increasing domestic political polarization, have spurred central banks to ramp up their gold purchases, according to Bank of America&#8217;s commodities and derivatives strategist Francisco Blanch.
Blanch draws a parallel to the end of USD-gold convertibility in 1971, which heralded a new international monetary system. 
Similarly, he suggests the escalating geopolitical rift between the U.S./European Union and China/Russia, encompassing trade, politics and defense, is at &#8220;the heart of the run up in gold.&#8221;
<h2 class="wp-block-heading">Chart: Gold Notches Best-Performing Month In Nearly 4 Years </h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28154131/image-64-1024x495.png" alt="" class="wp-image-269752" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28154131/image-64-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28154131/image-64-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28154131/image-64-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28154131/image-64-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28154131/image-64.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Top-Performing Gold Mining Stocks In March 2024</h2>
The top performers within the VanEck Gold Miners ETF portfolio for March 2024 were:
<ul>
<li>Equinox Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NYSE">EQX</a>), with an increase of 49%.</li>
<li>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>), rising by 44.2%.</li>
<li>Harmony Gold Mining Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>) and Torex Gold Resources Inc. (OTCPK: TORXF), both up by 42%.</li>
<li>OceanaGold Corporation (OTCPK: OCANF), which saw a 37% increase.</li>
</ul>
The leading performers in the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) portfolio for March 2024 included:
<ul>
<li>Argonaut Gold Inc. (OTCPK: ARNGF), with a gain of 70.65%.</li>
<li>McEwen Mining Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUX#NYSE">MUX</a>), which rose by 60.34%.</li>
<li>Australian Strategic Materials Ltd (OTCPK: ASMMF), with an increase of 40.82%.</li>
<li>Gatos Silver, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATO#NYSE">GATO</a>), closely behind with a 40.48% gain.</li>
<li>Hochschild Mining plc (OTCPK: HCHDF), with a rise of 36.57%.</li>
</ul>
Read now: <a href="https://www.benzinga.com/news/large-cap/24/03/37990561/easters-bitter-surprise-cocoa-is-up-240-in-a-year-what-can-a-ton-of-the-chocolate-commodity-get-yo">Easter&#8217;s Bitter Surprise: Cocoa Is Up 240% In A Year – What Can A Ton Of The Chocolate Commodity Get You Today?</a>
Photo via Shutterstock.

ARNGF

AUSTRALIAN STRATEGIC MTRL by Australian Strategic Materials Ltd.

ASMMF

GATO

TORXF

Gold Prices Rise To All-Time Highs, Mark Best Month In 4 Years: Mining Stocks Rally As Traders Anticipate Windfall Gains

March 2024 has been a golden month for gold mining stocks, marking their best performance in a year. 
The catalyst? A mix of anticipation for lower interest rates and robust demand from central banks sent gold prices — and consequently, <a href="https://www.benzinga.com/topic/mining">gold mining stocks — soaring. </a>
The bullion found support at $2,160 per ounce, hitting all-time highs at $2,222 last week following a dovish Fed meeting, before staging a temporary respite. 
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), a key barometer for the gold mining industry, saw a robust rally of over 13% this month, setting it on course for its strongest monthly gain since March 2023, when it rose by 17%.
This month, the gold mining sector has outshone all other U.S. industries, surpassing even the performance of semiconductor stocks, as measured by the VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>), and energy services, as indicated by the VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>).
<h1 class="wp-block-heading">Chart: Gold Miner ETF Eyes The Strongest Monthly Performance In A Year</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57-1024x495.png" alt="" class="wp-image-265902" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<h1 class="wp-block-heading">JP Morgan Sees A Potential &#8216;Golden Era&#8217; For Gold Prices</h1>
Stephen Jury, managing director at J.P. Morgan Private Bank, outlined a constructive view on the precious metal&#8217;s future, in his latest investment strategy report. 
Jury pointed to the Federal Reserve&#8217;s anticipated interest rate cuts starting June 2024 as a key driver for gold&#8217;s appreciation in the next 12 months. 
He noted, &#8220;In our opinion, this should set the stage for gold appreciation.&#8221; 
Jury also highlighted the role of geopolitical tensions and the upcoming global elections in 2024, involving countries that represent half of the world&#8217;s population, in driving central bank demand for gold.
<h1 class="wp-block-heading">Central Banks And Retail Investors: A Bullish Momentum</h1>
With more than 60 countries heading to the polls in 2024 and ongoing regional conflicts, central banks are expected to continue diversifying their reserves into gold, potentially less sensitive to price changes. 
&#8220;A persistent theme of geopolitical tension should continue to drive Central Bank reserve diversification,&#8221; Jury wrote, adding that he expected &#8220;more central banks to add to their buying momentum this year&#8221;
Additionally, Jury anticipated a return of retail ETF investors to the gold market as yields fall, marking an under-owned and under-appreciated investment ripe for appreciation. JP Morgan&#8217;s forecast for gold prices by year-end 2024 stands at $2,250-2,350.
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Price Target

Gold Mining Stocks Eye Best Month In A Year As 'Golden Era' For The Precious Metal Looms

Gold prices are projected to rise to $2,500-$2,600 per ounce, representing an&nbsp;attractive portfolio hedge for equity investors, according to a Bank of America report published this week. 
As the precious metal surged to fresh record highs following the Fed March meeting, investment and ETF strategist Jared Woodard from Bank of America identified two primary engines driving gold&#8217;s unprecedented rally: its hedging quality <a href="https://www.benzinga.com/topic/gold">and central bank purchases. </a>
<h1 class="wp-block-heading">Chart: Gold Hit Record Highs Post-Fed March 2024 Meeting</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47-1024x495.png" alt="" class="wp-image-260971" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21115130/image-47.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">Key Drivers Sending Gold To Record Highs</h1>
&#8220;Gold&nbsp;has the lowest correlation to the S&amp;P 500 of almost any asset class and&nbsp;can act as a haven if inflation reaccelerates or growth slows&nbsp;later this year,&#8221; Woodard wrote.
Woodard highlighted that &#8220;central banks have been hoarding gold like never before,&#8221; accumulating over 2,100&nbsp;tons&nbsp;in the past&nbsp;two&nbsp;years.
The expert also stressed that unlike previous rallies, the current surge in gold&#8217;s value has largely bypassed retail investors. This is evidenced by a 25% drop in total ETF gold holdings, suggesting that prices could have been even higher if retail participation mirrored that of institutional entities.
This gap presents a potential for increased demand, especially if yields decrease, possibly driving prices to the $2500-$2600 range, as predicted by Bank of America technical analyst Paul Ciana.
<h1 class="wp-block-heading">A Preference for Physical Gold ETFs Over Miners</h1>
When considering how to get exposure to gold, Woodard and his team advocate for physical gold ETFs, such as iShares Gold Trust Micro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>) and SPDR Gold Minishares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>), which are less expensive than the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) and iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>). 
Physical gold ETFs are also preferred versus miner ETFs, as the former offers a more stable and direct exposure to the commodity&#8217;s value.
Bank of America showed that in the long timeframe, gold mining ETFs have not kept pace with their physical counterparts, partly due to the presence of mining companies disproportionately affected by downturns, diluting potential gains.
The expert recommended prioritizing mining stocks with a higher ratio of upside to downside beta, such as Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) or Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), to capitalize on gold&#8217;s positive trajectory while mitigating risk.
In the mining ETFs arena, Bank of America&#8217;s preference is on the iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>) and the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) as it &#8220;offers above average risk-adjusted returns and buy-rated stock exposure&#8221; compared to Sprott Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>) and VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>)
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37870905/feds-dovish-stance-ignites-market-rally-everybody-is-bullish-veteran-wall-street-in">Fed&#8217;s Dovish Stance Ignites Market Rally: &#8216;Everybody Is Bullish,&#8217; Veteran Wall Street Investor Says</a>
Photo: Shutterstock

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Gold Investors Should Own These ETFs, Says Bank Of America: Why Analysts Expect Gold Spike To $2,600

Gold has been on a tear of late and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37569351/gold-rises-to-all-time-highs-marks-longest-winning-streak-since-july-2000-driven-by">closed at a record high on Friday.</a> An economist said on Friday gold miners have lagged the rally in the yellow metal and could soon play catch-up.
What Happened: Gold&#8217;s record run hasn&#8217;t sparked interest in gold mining stocks, said economist and gold bull Peter Schiff. On Friday, gold futures settled at $2,186.20, up 0.97%. Despite the development, exchange-traded funds comprising gold mining stocks were essentially unchanged in the session. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) ended Friday&#8217;s session up 0.10% $29.64, while the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) fell 0.42% to $35.93, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data.</a>
&#8220;An explosive move up can&#8217;t be that far away. So buy the miners before the crowd realizes what&#8217;s going on,&#8221; Schiff said.
Delving into the potential reasons for a lack of reaction among mining stocks, Schiff said it could be due to investors selling these stocks to buy Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETFs.
Schiff also said he expects gold opening with a gap up at $2,200 on Monday. 
&#8220;This is more likely to be the case if Bitcoin crashes over the weekend,&#8221; he said.
See Also: <a href="https://www.benzinga.com/money/best-gold-stocks">Best Gold Stocks Right Now</a>
5 Gold Stocks To Keep A Tab On: Given the likelihood of the Federal Reserve reversing its rate hikes, the gold rally could continue. Gold, denominated in the U.S. dollar, shares an inverse relationship with the dollar, which could lose steam when the Fed cuts rates.
<a href="https://www.benzinga.com/money/is-gold-a-good-investment">Gold is also a good inflation hedge</a> and could be a go-to asset when inflationary pressure remain stubborn. 
If the yellow metal adds further luster to it and gold miners follow it on the way higher, here&#8217;s a list of stocks that could be worth accumulating:
<ul>
<li>B2Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTG#NYSE">BTG</a>)</li>
<li>Centerra Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CGAU#NYSE">CGAU</a>)</li>
<li>DRDGOLD Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRD#NYSE">DRD</a>)</li>
<li>Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)</li>
<li>Hecla Mining Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>)</li>
<li>New Found Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NFGC#NYSE">NFGC</a>)</li>
<li>NovaGold Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NG#NYSE">NG</a>)</li>
<li>Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>)</li>
<li>Seabridge Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SA#NYSE">SA</a>)</li>
<li>Sandstorm Gold Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAND#NYSE">SAND</a>)</li>
</ul>
These stocks were screened based on the following criteria:
<ul>
<li>Over $300 million market cap</li>
<li>Average trading volume over 500,000</li>
<li>Analyst rating of &#8220;Buy&#8221; or higher</li>
<li>Average analysts&#8217; price target is 30% above current market price</li>
</ul>
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Photo: Shutterstock

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