So gold is getting closer to $1,750 again, and since gold recently experienced a dip I’m looking on investing on some gold stocks since I feel like they’ll do well in the current high inflationary environment.
I am currently holding Barrick Gold whose total preliminary gold production rose to 1.09 million ounces and Newmont, which is another big company that generates massive production of precious metals. The latter was recently among stocks that can possibly beat inflation.
Right now I’m looking into going for some First Majestic not just for the gold but also since they have the most expensive silver stock out there. Another one would be Equinox Gold since they are showing a lot of potential too. Their operations are not deterred by the pandemic, so they are constantly producing and is possibly headed for a breakout.
For explorations, I think Collective Mining has a lot of room to grow. They already started drilling and have released good results in the recent months. The cash burn is so low and the company is set up for a long timeline. So far that’s the only one I’m going to look into since they’re already showing promise in their drilling results. I also want to be safe so I’m more focused on the bigger ones since they’re more certain and I don’t think I’d lose that much on them.
Right now I have only invested on the bigger producers and is still looking into the others that i have mentioned. I need your thoughts. Is it smart to invest on gold right now since there’s a lot going on with the prices?
Submitted October 19, 2021 at 06:09AM by DecentSounds https://ift.tt/3E0pgxH
