5 Best Gold Stocks To Buy For 2014
Gold prices in India surged sharply to new record highs and past earlier peaks with MCX gold futures for Oct delivery on the Multi Commodity Exchange trading at 34,622 rupees per 10 grams Wednesday morning as the rupee again slumped to a new record by over 5% to 69.80 (Sept. futures) per U.S. dollar. MCX Silver for Sept. delivery shot up to 59,580 rupees at the time of writing. The rupee had a sharp downside impact today after, the Indian government on Monday passed a landmark bill through the lower house of parliament that expands the world’s biggest food program that will give subsidized grain to two-thirds of India’s 1.2 billion citizens. The plan involves spending about 1.25 trillion rupees ($19.5 billion) in subsidies each year at a time when the government is running budget and current account deficits. The rupee currency had weakened 32% since August 2008 till Tuesday, according to data compiled by Bloomberg. Premiums on gold prices in India have risen to over $35 p er ounce over London spot prices due to a very robust demand but a lack of supply due to the massive curbs and import duty hikes levied in the past 12 months on gold imports. The World Gold Council estimates that sales will reach as much as 1,000 metric tons this year in both China and India, the world’s largest buyers. The Indian rupee also fell towards record lows on Wednesday, leading slides among emerging Asian currencies with Southeast Asian units at multi-year lows as concerns over possible U.S. military action against the Syrian government dented risk sentiment. A widening current account deficit, slowing economic growth and strong resistance to implementing much-needed reforms have had a critically severe impact on the rupee valuation to the dollar in addition to an anticipated withdrawal or the so-called "Taper" in quantitative easing by the Federal Reserve. The wisdom of Indian housewives’ belief in gold as a store of value is being seen after the rupee’s rapid depreciation in recent weeks. Gold has risen or rathe! r the rupee has fallen to near record lows against gold at over 98,153 rupees per ounce. Gold’s earlier record rupee high was 97,129/oz on November 26, 2012. Gold prices in the world’s biggest gold-consuming nation have surged 21.8% since June 30, according to data compiled by Bloomberg, while indexes measuring Indian bonds fell 6.4% and stocks dropped 4.5%. Indian investors will remain attracted to gold as long as inflation stays above 7%. Also the rupee has lost over 19.2% this year, the second-worst performance in Asia.
5 Best Gold Stocks To Buy For 2014: Australian Dollar(AU)
AngloGold Ashanti Limited primarily engages in the exploration and production of gold. It also produces silver, uranium oxide, and sulfuric acid. The company conducts gold-mining operations in South Africa; continental Africa, including Ghana, Guinea, Mali, Namibia, and Tanzania; Australia; and the Americas, which include Argentina, Brazil, and the United States. It also has mining or exploration operations in the Democratic Republic of the Congo, Guinea, and Colombia. As of December 31, 2010, the company had proved and probable gold reserves of 71.2 million ounces. The company has a strategic alliance with Thani Dubai Mining Limited to explore, develop, and operate mines across the Middle East and parts of North Africa. AngloGold Ashanti Limited, formerly known as Vaal Reefs Exploration and Mining Company Limited, was founded in 1944 and is headquartered in Johannesburg, South Africa.
- [By Rich Duprey]
Considering the work stoppages and violent clashes that have become the norm at South African precious-metals mines, perhaps the miners were wondering exactly what they were getting for their money. An expose by South Africa’s Daily Maverick has uncovered a system where miners such as AngloGold Ashanti (NYSE: AU ) and BHP Billiton (NYSE: BHP ) surreptitiously paid for the salaries of the heads of the local mining unions to keep the mine workers in line, and it’s only because the miners sought to end the “uncomfortable arrangement” with the unions that the matter came to light.
- [By Sally Jones]
Anglogold Ashanti Limited (AU)
Down 65% over 12 months, Anglogold Ashanti Limited has a market cap of $4.85 billion, and trades with a P/E of 8.10.
- [By Dan Caplinger]
One way Yamana has kept its competitive cost advantage is through extensive sales of base-metal byproducts like copper and zinc, as both it and fellow low-cost rival Goldcorp (NYSE: GG ) benefit from utilizing those secondary metals to offset the cost of their gold production. Peers Gold Fields (NYSE: GFI ) and AngloGold Ashanti (NYSE: AU ) , on the other hand, face much higher costs in part because of their exposure to South Africa and its unstable labor market.
5 Best Gold Stocks To Buy For 2014: NEW GOLD INC.(NGD)
New Gold Inc. engages in the acquisition, exploration, extraction, processing, and reclamation of mineral properties. The company primarily explore for gold, silver, and copper deposits. Its operating properties include the Mesquite gold mine in the United States; the Cerro San Pedro gold-silver mine in Mexico; and the Peak gold-copper mine in Australia. The company also has development projects, including the New Afton gold, silver, and copper project in Canada; and a 30% interest in the El Morro copper-gold project in Chile. The company was formerly known as DRC Resources Corporation and changed its name to New Gold Inc. in June 2005. New Gold Inc. was founded in 1980 and is headquartered in Vancouver, Canada.
- [By Ben Levisohn]
Even bad news has failed to dent the rise in gold stocks today. NewGold (NGD), for instance, has gained 1.8% to $7.49 despite the fact that the wall of one of its mines collapsed. The Wall Street Journal has the details:
Best Medical Companies To Own For 2014: First Majestic Silver Corp.(AG)
First Majestic Silver Corp. engages in the production, development, exploration, and acquisition of mineral properties with a focus on silver in Mexico. The company owns interests in La Encantada Silver Mine comprising 4,076 hectares of mining rights and 1,343 hectares of surface land located in Coahuila; La Parrilla Silver Mine consisting of mining concessions covering an area of 69,867 hectares; and San Martin Silver Mine comprising approximately 7,841 hectares of mineral rights and approximately 1,300 hectares of surface land rights located in Jalisco. It also holds interests in Del Toro Silver Mine consisting of 393 contiguous hectares of mining claims and an additional 129 hectares of surface rights located in Zacatecas; Real de Catorce Silver Project comprising 22 mining concessions covering 6,327 hectares located in San Luis Potosi state; and Jalisco Group of Properties consisting of mining claims totalling 5,240 hectares located in Jalisco. The company was founded in 1979 and is headquartered in Vancouver, Canada.
- [By Doug Ehrman]
While many precious-metals companies have been in a slump of late, there is one that belongs perpetually in your portfolio: Silver Wheaton (NYSE: SLW ) . The company is not like other miners — including Pan American Silver (NASDAQ: PAAS ) and First Majestic (NYSE: AG ) — in that it has a unique business plan that insulates it against many of the vagaries of the mining business. Moreover, because silver will always have a significant industrial demand component, even with the heightened volatility you see in the silver market, maintaining exposure to silver is appropriate.
- [By Doug Ehrman]
It is no secret that precious metals companies have been taking a pounding for some time now. The SPDR Gold Trust (NYSEMKT: GLD ) and iShares Silver Trust (NYSEMKT: SLV ) , the gold and silver ETFs, have been hard hit and operating companies like First Majestic (NYSE: AG ) and Barrick Gold (NYSE: ABX ) have been hit even harder. Through all of these struggles, and in some cases because of them, one precious metals company continues to look attractive for the long term: Silver Wheaton (NYSE: SLW ) .
- [By Doug Ehrman]
In terms of individual companies, there are several good choices, but these can behave very differently. Pan American Silver (NASDAQ: PAAS ) , for example, missed revenue expectations and beat earnings expectations in its last earnings release. But despite the beat, EPS shrank considerably from a year earlier on a GAAP basis. The stock has been fairly flat ever since. Conversely, First Majestic (NYSE: AG ) reported strong revenue growth and a small bump in profits, sending the stock higher since the announcement. First Majestic reported increased cash costs and tightening margins, largely driven by lower silver prices. Each of these companies faces pressure from increasing production costs and environmental concerns.
- [By Doug Ehrman]
Despite the weakness seen in precious metals a few weeks ago, silver has been relatively stable ever since mid-April, with the iShares Silver Trust (NYSEMKT: SLV ) trading in a dollar-wide range ever since. With the presidents of the Chicago and Philadelphia Federal Reserve banksRelated articles:Top Stocks For 2014
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