It’s an interesting time for shiny rocks; precious metals stocks.<\/p>\n
After slumping for years, gold stocks<\/a> and precious metals stocks have returned to the investing spotlight as investors to the safe haven of gold during market uncertainty, which in turn lifts silver (\u201cpoor man’s gold\u201d). As global markets plunged 3% Monday (Feb. 24th 2020) on news that the coronavirus<\/a> is spreading in Italy, Iran South Korea, gold spiked as much as 2% and silver wasn’t far behind.<\/p>\n Meanwhile, the rise of electronic cars and smartphones has driven demand for lithium, but oversupply may dampen that optimism short-term. Stockchase looks at precious metal stocks as Toronto hosts the annual Prospectors and Developers Convention of Canada (PDAC)<\/a><\/u><\/span><\/span>, one of the largest convention for minerals in the world.<\/p>\n Last week, we looked at silver<\/a> and lithium<\/a> stocks. <\/p>\n This week, as Toronto hosts the annual Prospectors and Developers Convention of Canada (PDAC)<\/a><\/u><\/span><\/span>, we examine gold<\/a>. For the past year, gold has been on a tear as nervous investors seek haven in the shiny rock during trade wars, tariffs and, currently, the coronavirus. At the same time, the outbreak has injected volatility in gold names. However, over the past year, gold has soared 20%, and has already blown past The World Bank<\/a><\/u><\/span><\/span>‘s projections for 2020. An informal survey of mining executives and analysts at PDAC reveals gold to end 2020 at or slightly above US$1,700 an ounce.<\/p>\n Here, we look at gold, silver and lithium :<\/p>\n