We kick off this week’s gold report with a thorough assessment of the metal’s journey to a new record high, crossing the key support level of US$5,000 per ounce, shedding light on its prospects for further gains amid intensifying geopolitical tension and long-term fiat currency debasement.
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By the ounce
At the time of writing on Wednesday, the price of gold was US$5,255.50, according to data from ADVFN, up from US$4,865.33 in our January 21st report, as investors seek safety in the precious metal from US president Trump’s chaotic reorganization of international relations.
This week in gold
With both gold and silver recently hitting all-time-highs, including silver breaching the US$100 mark for the first time, operators across the mining lifecycle have never looked more attractive. This includes a trio of junior miners that released value-accretive news over the past week:
First, we have Banyan Gold (TSXV:BYN), posting an intercept of more than 10,000 grams per ton (g/t) of silver at its district-scale AurMac project in the Yukon, with the gray metal on track to complement the project’s more than 7.5 million ounces in gold resources in a future estimate.
Next up, celebrated mining investor Eric Sprott cut a US$40 million cheque for shares of Highlander Silver (TSX:HSLV) before its planned NYSE debut, significantly increasing his exposure to one of the top 10 highest-grade gold and silver projects in the world.
Finally, we consider new drill results from Galway Metals (TSXV:GWM) that suggest the story about its more than 2-million-ounce Clarence Stream project in New Brunswick is only beginning to unfold.
Top trending gold stocks
- New Found Gold (TSXV:NFG) | 29,500+ views.
- Tudor Gold (TSXV:TUD) | 20,000+ views.
- West Red Lake Gold Mines (TSXV:WRLG) | 9,800+ views.
- B2Gold (TSX:BTO) | 8,000+ views.
- Freegold Ventures (TSX:FVL) | 6,200+ views.
- Monument Mining (TSXV:MMY) | 5,100+ views.
Join the discussion: Find out what investors are saying about gold’s record high and the stocks in this week’s gold report on Stockhouse’s stock forums and message boards.
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