Overwhelming momentum is driving the gold price higher.
The pandemic, a crashing economy, QE Infinity, fear; these forces have all united at once with incredible potency and perfect timing.
A record high for the precious metal is now in sight and after that it is a short hop, skip and jump to $2,000/oz.
What happens next?
Well it’s anyone’s guess, but a great deal of pent up energy could be unleashed with explosive power.
Gold bugs have been willing the price of gold through the emotionally decisive $2,000/oz. threshold for well over a decade.
After a number of false starts, it looks like their time has finally come.
Once it does, the real fireworks could begin.
Many current retail investors weren’t around in 2009 and 2010.
Those that were will remember how fortunes were made in double quick time, during those exhilarating years.
As the Great Financial Crisis was brought to an end by the first round of Quantitative Easing, inflation expectations propelled gold upwards.
Gold stocks lifted off not long after, in what became one of the most intense bull markets imaginable.
Similar conditions prevail today and we could be setting up for a repeat move.
The best quality gold stocks have already rallied hard over the last 6 months and show little sign of slowing.
The question now is which companies can benefit most, when the buying frenzy really begins?
As ever, it will all come down to careful stock selection. If you can find a combination of the following traits in your picks, you won’t go too far wrong:
- 1. Proven and compliant resources in the ground
- 2. Plenty of exploration upside
- 3. Stable operating environment
- 4. Tight share structure
- 5. Well-funded
- 6. Potentially an abundance of news flow from drilling activities
Of course, the best outcome would be to find a stock that has all six.
A share price rally poised to bust new highs – KORE Mining (TSX-V:KORE|OTC:KOREF)
The market loves momentum.
In the last 3 months, the share price has rallied 4 times to C$0.81 and the best could yet still be to come.
The company has an exciting portfolio of 4 gold projects, each of which has knockout potential to deliver vast exploration upside.
All 4 are located in Canada and the United States, some of the most secure mining jurisdictions in the world and all 4 are excellent prospects to add ounces and make meaningful new discoveries.
In fact, there is so much commercial promise across this electrifying portfolio that it has already won the support of the mining investment world’s biggest names.
This is a huge endorsement and gives the firm backing to deploy into the field, at a time when the market loves nothing more than gold exploration drill results.
It immediately initiated what might well be a transformational drill campaign, which could see the company add to the significant gold resources it ALREADY has in place.
First results came in a few weeks ago at the FG Gold Project and the market LOVED what it saw.
The shares are up 15 per cent.
(This article was first published on Mining Maven's sister site ValueTheMarkets on 03 July 2020)
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