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General Market Commentary
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General Precious Metals
Record Gold Prices Stoking Gold Stock Gains
GoldMining, Inc. (TSX: GOLD)(OTC: GLDLF) shares are now well over C$2.00 as gold prices have now touched a record in U.S. dollars.
It has been above that price for most of July.
Shares of GoldMining are also on their way to US$2.00, which is a critical threshold. Maintaining that price for a short period of time is one of the major requirements for listing shares on a major U.S. stock exchange.
From there, other windows open up, like the potential for GoldMining shares to be included in major industry ETFs.
Both those things — a major U.S. listing and ETF inclusion — typically come with increased buying.
And this is all made possible by GoldMining acquiring so many gold assets during the bear market ahead of what just turned a record gold price environment.
Plus the creation of a wholly-owned royalty company that helped propel shares to where they are today.
It’s why analysts like H.C. Wainwright have share price targets on GoldMining (TSX: GOLD)(OTC: GLDLF) as high as C$7.00.
Our report on GoldMining is here.
And we have other insights on top gold stocks to own in this environment right here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest