Unlike other commodity groups, gold prices have a connection to uncertainty. While other asset groups, such as bonds and securities, do not like higher volatility, demonstrate higher confusion regarding cash flows, dividends, coupon payments, etc., during times of greater volatility, gold appears to profit. Increased stock market volatility due to growing macroeconomic pressures is increasing gold’s haven appeal. Reduced political uncertainties begin to lessen gold’s haven appeal.
In recent days, gold volatility has risen sharply, but the changes are also unimportant to the gold market. .The volatility of gold is selling in 1962. The 5-day correlation between GVZ and gold values is +0.27, whereas the 20-day correlation is -0.62; the 5-day correlation was +0.26 one week earlier, on December 3, and the 20-day correlation was +0.15.
DRDGOLD Limited (NYSE:DRD) shares were trading down -1.15% at $10.35 at the time of writing on Thursday.
DRDGOLD Limited (NYSE:DRD) share price went from a low point around $3.02 to briefly over $18.05 in past 52 weeks, though shares have since pulled back to $10.35. DRD market cap has remained high, hitting $926.22M at the time of writing, giving it price-to-sales ratio of more than 3.
If we look at the recent analyst rating DRD, H.C. Wainwright initiated coverage on DRD shares with a Buy rating.
Franco-Nevada Corporation (FNV) last closed at $131.46, in a 52-week range of $77.18 to $166.11. Analysts have a consensus price target of $81.27.
Galiano Gold Inc. (GAU) stock drop by -1.75% to $1.12. The most recent rating by Desjardins, on September 09, 2020, is at a Buy.
Golden Star Resources Ltd. (AMEX:GSS) Shares headed falling, lower as much as -4.34%. The most recent rating by Desjardins, on September 09, 2020, is at a Hold.
Osisko Gold Royalties Ltd (NYSE:OR) fall -0.44% after losing more than -$0.05 on Thursday after reporting that the Toronto Stock Exchange has approved the Corporation’s notice of intention to make a normal course issuer bid.
Pretium Resources Inc. (PVG) last closed at $11.25, in a 52-week range of $4.05 to $14.55. The company announced on December 4, 2020, that it, along with its wholly-owned subsidiary, Pretium Exploration Inc., has entered into an agreement with KSM Mining ULC, a wholly-owned subsidiary of Seabridge Gold Inc., to sell its Snowfield property located in northwest British Columbia. Analysts have a consensus price target of $13.66.
Seabridge Gold Inc. (SA) stock drop by -0.57% to $17.38. The most recent rating by B. Riley FBR, on April 30, 2019, is at a Buy.
International Tower Hill Mines Ltd. (AMEX:THM) Shares headed falling, lower as much as 0.00%. The most recent rating by Barclays, on October 05, 2020, is at an Overweight.
Tanzanian Gold Corporation (AMEX:TRX) fall -2.96% after losing more than -$0.02 on Thursday. On December 1, 2020, the company announced Mr. Stephen Mullowney, CPA, CA, CFA as Chief Executive Officer (CEO).
Vista Gold Corp. (VGZ) last closed at $0.96, in a 52-week range of $0.36 to $1.45. The firm on November 30, 2020 revealed a Deed of Variation with Jawoyn Association Aboriginal Corporation and Barnjarn Aboriginal Corporation to modify the original 2006 agreement with respect to the Mt Todd gold project.