Last week’s top-gaining TSXV mining stocks were NEO Battery Minerals, Pulse Oil, Jayden Resources, Q Gold Resources and Silver Spruce Resources.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) experienced an uptick last week, opening on Monday (May 31) at 19,905.82 and finishing at 20,031.87 on Friday (June 4).
News hit that the Canadian economy lost 68,000 jobs in May due to COVID-19 prevention measures. The unemployment rate for the month was 8.2 percent, slightly lower than April’s 8.1 percent.
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NEO Battery Minerals (TSXV:NBM)
Catch up and get informed with this week’s content highlights from Charlotte McLeod, our editorial director.
Gold had a bumpy time this week, starting the period above the US$1,900 per ounce mark, but dropping to around the US$1,870 level on Thursday (June 3).
The yellow metal’s decline was blamed on factors such as US jobless claims, which fell below 400,000 this week, and a record high for the country’s service sector index.
Gold was back up to around US$1,890 by Friday (June 4) afternoon. Looking forward to the future, I heard this week from Gwen Preston of Resource Maven. She has a positive outlook for the precious metal, and is also optimistic about gold stocks, which she said are still historically cheap relative to gold.
Exchange-traded funds, or ETFs, have existed since 1993, though they became much more common in the early 2000s. Since then, gold ETFs have risen in popularity because they are a cheaper investment option than traditional mutual funds.
ETFs represent shares of ownership of a unit investment trust that holds portfolios of stocks, bonds, currencies or commodities. They provide considerable flexibility in implementing various investment strategies and in building investment portfolios.
Precious metals-focused ETFs are fairly common today and are a good choice for investors who want to invest in gold without personally trading gold futures or physical gold, such as gold coins.