The Top Reasons to Jump into Oversold Gold Stocks
Gold prices could rally well above $2,500 this year, says Goldman Sachs.
Analyst Jeff Currie sees the perfect storm for gold based strong investor demand for gold with fears of inflation and recession, central bank demand for gold at all-time records, and strong physical demand for gold from countries around the world.
In fact, “This is the strongest demand from all three channels that we’ve ever seen. The last time we saw this type of demand strength was from 2010 – 2011 where gold rallied 70%.” In addition, “Conditions for gold are perfect, with high inflation plus collapsing stock and bond markets together sowing the seeds of panic,” says Will Rhind, founder and CEO of ETF provider Granite Shares,” as noted by Barron’s.
That could be a strong catalyst for Calibre Mining Corp. (TSXV: CXB) (OTCQX: CXBMF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Kinross Gold (TSX: K) (NYSE: KGC), Newmont Corp. (TSX: NGT) (NYSE: NEM), and Royal Gold Inc. (NASDAQ: RGLD).