3 Small-Cap Gold Stocks to Buy After the Federal Reserve’s Jackson Hole Summit By StockNews
© Reuters. 3 Small-Cap Gold Stocks to Buy After the Federal Reserve’s Jackson Hole Summit
Because rising COVID-19 cases and the Federal Reserve’s dovish monetary policy stance are expected to drive the safe-haven demand for gold, we think it could be wise to bet now on quality small-cap gold stocks Centerra Gold (CGAU), Torey Gold (TORXF), and Argonaut Gold (OTC:). Read on.With the major stock market indexes hovering near all-time highs, many investors have rotated away from safe-haven assets like gold. In addition, Fed Chairman Jerome Powell signaled at its recent annual Jackson Hole summit that the central bank could begin tapering activities later this year. However, benchmark interest rates are not expected to be raised in the near term.
Consequently, gold moved near a four-week high today, with at roughly $1,814.76 per ounce. Furthermore, rising geopolitical tensions related to Afghanistan and the resurgence of COVID-19 cases due to the rapid spread of the Delta variant could increase safe-haven demand for gold.
Given this backdrop, we think it could be wise to invest in small-cap gold mining stocks Centerra Gold Inc. (CGAU), Torex Gold Resources Inc. (OTC:), and Argonaut Gold Inc. (ARNGF).
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