RE:RE:Price gain?I believe that there are a number of reasons why mining stocks are higher;
S&P/ TSX (- 47.65), Dow Jones (- 146.5) , S&P 500 (-8.4) and Nasdaq ( -27.0) all Down today.
Gold futures are up $1842.93 US; thats $29.19 US or 1.62%
Gold stocks are up; Example : Barrick up 8.4%; Agnico Eagle 8.0%; Eldorado is up 7.2%
Silver stocks are even higher: Example Endeavour Silver 11.4%; First Majestic silver 12.9%
WHY?
1) Inflation fears fuel strong rallies in gold, silver
2) Risk aversion is somewhat heightened at mid-week. The Biden Administration said it thinks Russia may be on the brink of invading Ukraine. North Korea is test-firing missiles again, and terrorists attacked the United Arab Emirates with drones a few days ago.
3) Gold is (was) being suppressed by a combination of the JPMorgan/ Hedgies and has gone from being 'unloved' to a reconsideration for many who realize that the economic reality is that things are not really as they seem and if left unchecked, we are heading towards a recession where NO One really wins
btw Jim Wickoff expands on this well... copy / paste:
https://www.kitco.com/news/2022-01-19/Inflation-fears-fuel-strong-rallies-in-gold-silver.html
Cheers to the patient investors as we hopefully find a more reasonable level for gold miner valuations.