Barrick Gold Corporation (NYSE:GOLD),
Golden Star Resources (NYSE:GSS), and
Franco-Nevada Corporation (NYSE:FNV)?
Many parts of the stock market look weak, but that's not the case with the gold companies. A number appear to be on the verge of a breakout because gold could be about to make a large move higher.
What To Know: On Aug. 5, 2020, the price of the metal broke the $2,000 per ounce level. It trended lower until March when it found support around $1,685. Since then, it has staged a rebound.
Now gold is trading around $1,780. There’s resistance at this level and it has put a ceiling on the price. If this resistance breaks, gold could break out and make a large move higher.