Home / gold / “thestreet” : Gold and Gold Stocks Lost Their Luster Since Post-Election Highs : 2017-03-09

“thestreet” : Gold and Gold Stocks Lost Their Luster Since Post-Election Highs : 2017-03-09

As it stated in

Here’s Why These Gold Stocks Fell in February — The Motley Fool

Here's Why These Gold Stocks Fell in February -- The Motley Fool*/

As it stated in Despite auspicious starts to the new year, many of the market’s largest gold stocks fell in February, including AngloGold Ashanti (NYSE:AU), Yamana Gold (NYSE:AUY), IAMGOLD (NYSE:IAG), and Eldorado Gold (NYSE:EGO).
Despite the price of gold rising more than 4% through February, gold stocks erased most of the gains they made in January.
It’s no wonder, then, that gold stocks — which generally rise when fear and uncertainty are high — reacted adversely.
For one, it reported gold production of 486,000 ounces, which was lower than the revised third-quarter estimate of 495,000 ounces.
However, gold stocks would be unaffected.

How Mining Stocks Correlate with Gold

How Mining Stocks Correlate with Gold*/

As it stated in How Precious Metals Have Performed amid Volatility PART 1 OF 4How Mining Stocks Correlate with GoldMining stocks and goldIt’s important to know which mining stocks have overperformed and which ones have underperformed precious metals.
Mining companies that have high correlations with gold include AngloGold Ashanti (AU), Hecla Mining (HL), Kinross Gold (KGC), and Eldorado Gold (EGO).
Usually, a fall in gold leads to falls in mining stocks and vice versa.
Correlation trendsWhile all the above stocks are closely related to precious metals, Eldorado has the highest correlation to gold year-to-date.
Some ETFs that have high correlations with precious metals include leveraged funds such as the Sprott Gold Miners (SGDM) and the Global X Silver Miners Fund (SIL).

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