If you read my article yesterday explaining how Gold’s value is achieved, how the precious metal is correlated to the U.S. dollar and why the commodity is about to explode higher, you may have come to the same conclusions as Roger Scott in today’s video.
The spot gold price is mere dollars away from an 8 year high of $1,800 per ounce and had the biggest quarterly rise in 4 years. As long as the COVID-19 cloud remains hovering around our heads – gold is looking like a very strong trade and investment option.
With that in mind, the Wealthpress Head Trader has found 2 stocks with technical charts to support a move to the upside.
Agnico Eagle Mines Ltd (NYSE:AEM)
A senior Canadian gold mining company with a history of mining production in Canada, Finland and Mexico (world diversification). The company’s numbers are up 40% from last year with revenue reports above earnings estimates.
Wheaton Precious Metals Corp (NYSE:WPM)
Wheaton are one of the world’s largest precious metals streaming companies. Streaming allows Wheaton to purchase by-product precious metals from a mine that it does not own or operate in exchange for an upfront payment. This ultimately provides leverage to grow as gold price increases.
Watch the full interview for more stock analysis and trading rule-of-thumbs.