July has arrived, and with it has come many high performing gold stocks. When this new month began, the price of gold went up thus causing multiple stocks to increase in value. In the last year there has been many gold stocks that have reached new record highs. Attention shifted to gold because the economy was performing awfully. The economy is still in a bad place in July 2021.
What if you aren’t too sure how to invest in gold stocks? There are some steps you can take that will assist in this process. Inspecting gold prices daily or weekly can give you an idea of where the market is at. Viewing charts to recognize trends and patterns can assist when looking for gold stocks to buy in July. News related to the yellow metal, such as shortages, can be very useful as well. Sector related things are not the only thing that affect gold prices though.
World news often has an effect on the direction in which gold stocks are moving as well. The largest recent example of this is of course the pandemic, reopening, and vaccines. There are a lot of fears of inflation in the market right now. These inflation fears have certainly had an impact on the price of gold. No matter what specific is impacting gold stocks, there are plenty to keep an eye on this month. Let’s take a look at three that are performing well in July already.Top Gold Stocks To Watch
- NovaGold Resources Inc. (NYSE: NG)
- Eldorado Gold Corporation (NYSE: EGO)
- Gold Fields Limited (NYSE: GFI)
NovaGold Resources Inc. is a gold stock that explores and develops gold mineral properties in the United States. The company holds a 50% interest in the Donlin Gold project holding 493 mining claims in Alaska. These mining claims take up an area of 71,420 acres in the Kuskokwim region of southwestern Alaska.
On June 29th, NovaGold released its second quarter financial results. It announced there that its Donlin Gold 2021 drill program has continued to advance as planned. Community support for the project expanded to counter the effects of the pandemic. Its key permits are secured, and its robust financial position has been maintained.
The President and CEO Gregory A. Lang said, “Following a successful 2020 season with zero COVID-19 cases on site, together with a renewed and sustained commitment to the health and safety of our workforce members and local communities, the Donlin Gold project camp was safely re-opened in March and four drill rigs have been deployed.” This company is up nearly 7% on July 2nd. So will NG stock make your watchlist this week?Eldorado Gold Corporation (NYSE: EGO)
Eldorado Gold Corporation is a mining stock that explores, discovers, develops, acquires land, produces, and sells minerals. It’s primary products include gold, silver, lead, zinc, and iron ores. Eldorado operates the Kisladag and Efemcukuru mines. Its properties are located in Canada and Greece.
The company just released its sustainability report in June. The President and CEO of the company George Burns said, “Eldorado is committed to integrating sustainability from the ground up in all our business practices to create long-term value for our stakeholders. We are focused on the highest safety and environmental standards, establishing and maintaining prosperous and positive relationships with our communities and host governments, and creating real, lasting, and tangible benefits for the people whose lives our operations touch.” EGO stock has been going up in the market recently. So will EGO make your list of gold stocks to watch?Gold Fields Limited (NYSE: GFI)
Gold Fields Limited is a gold stock that offers and produces a diverse set of resources and reserves. The company’s assets are in Chile, South Africa, Australia, Ghana, and Peru. The company presently has 9 operating mines with an annual gold-equivalent production of 2.2 million ounces. Furthermore, the company has gold mineral reserves of about 51.3 million ounces and mineral resources of 115.7 million ounces. It similarly has copper reserves of 616 million pounds and mineral resources totaling 882 million pounds.
On June 11th, Gold Fields South Deep Gold Mine and the NUM and UASA trade unions reached a three year wage agreement. The VP of People and Organisational Effectiveness at South Deep Gerrit Lotz said, “The settlement agreement is fair and balanced, taking into account the impact that increases in cost of living are likely to have on employees over the next three years, and the future sustainability of our mine. We commend all parties for the constructive manner in which the negotiations have taken place.”
GFI stock has been increasing in the market. This company will usually increase in value when gold prices themselves go up. This has been a trend with GFI stock as it is with many other gold stocks. Will GFI stock make your gold watchlist?Gold Stocks In July
Nobody knows what will happen with gold stocks in July. There are fears of inflation that could impact the sector heavily this month, no matter what direction it is in. The sector could see its performance go in either way this month. So which companies will make it onto your gold stock list?