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Stocks of precious metals miners are on the move as gold futures climb to a 19-month high above $2,000/oz with April Comex gold (XAUUSD:CUR) +3.6% to $2,068/oz.
“We will face a period of extremely high inflation when central banks will struggle to mount a defense because of other constraints.” will continue to attract investors to the gold marketsays Saxo banking analyst Ole Hansen.
Also May Silver (XAGUSD:CUR) +6.3% at $27.34/oz, April Platinum +6% at $1,184.40/oz and palladium in June (XPDUSD:CUR) +3.7% at $3,009.50/ounce.
Among the top winners in gold mining is GORO +10.7%MUX +9.3%A.E.M +8%NGD +7.1%HL +6.3%KGC +5.9%AUY +5.3%AGI +5.1%GFI +5%.
Also: GPL +27%EXCL +12.9%FSM +10.3%Inc +10.2%SVM +9.8%CDE +7.8%PAAS +7%.
ETFs: GLD, GDX, IAU, NUGT, PHYS, SLV, SIL, SIVR, PSLV, PPLT, PALL
Despite the gold rally, it’s FXPro analyst Alex Kuptsikevich skeptical about the ongoing uptrendand speculated that restrictions on buying crypto would prompt the Central Bank of Russia to dump some of its gold reserves in order to get cash.
Kinesis Money’s Rupert Rowling said the upcoming rate hikes would “cap gold as its lack of yield makes it less attractive in a rising interest rate environment.”
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