Platinum Gr Metals (AMEX:PLG)
Platinum Group Metals Ltd is the operator of the Waterberg Project, a bulk underground PGM deposit located in South Africa. Waterberg was discovered by Platinum Group and is being jointly developed with Implats, the Japan Oil, Gas and Metals National Corporation (JOGMEC) and Hanwa Co. Ltd. Waterberg has the potential to be a large-scale, low-cost producer of palladium, platinum, rhodium, and gold. Geographically, it operates in Canada and South Africa.
| Open1.150 | Close1.170 |
| Vol / Avg.738.400K / 652.071K | Mkt Cap120.144M |
| Day Range1.130 - 1.180 | 52 Wk Range0.960 - 2.270 |
Avino Silver & Gold Mines (AMEX:ASM)
Avino Silver & Gold Mines Ltd is a mineral resource company. It is engaged in the exploration, extraction, and processing of silver, gold, and copper. The company generates most of its revenues through the sale of silver produced from its mines. Its project portfolio includes Avino; San Gonzalo; Oxide Tailings; Bralorne Gold and others.
| Open0.900 | Close0.934 |
| Vol / Avg.1.198M / 1.878M | Mkt Cap125.070M |
| Day Range0.890 - 0.948 | 52 Wk Range0.438 - 1.560 |
Harmony Gold Mining Co (NYSE:HMY)
Founded in 1950, Harmony Gold Mining Company is a gold mining and exploration company. It is the largest gold producer in South Africa. Harmony Gold Mining Company operates several gold mines across Witwatersrand Basin, Klerksdorp, West Rand and Free State.
The gold stock has a market cap of $2.66 billion. It has a 52-week low of $1.76 and a 52-week high of $7.61. Harmony Gold Mining Company has high liquidity and trades more than 4.1 million shares per day. It generated revenue of $26 billion in 2019.
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| Open8.420 | Close8.430 |
| Vol / Avg.8.307M / 4.445M | Mkt Cap5.307B |
| Day Range8.390 - 8.590 | 52 Wk Range5.400 - 12.290 |
Kinross Gold (NYSE:KGC)
Kinross Gold Corporation is headquartered in Toronto, Ontario and engages in gold and silver mining. Founded in 1993, the company currently operates 7 active gold mines.
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| Open9.170 | Close9.250 |
| Vol / Avg.25.658M / 16.395M | Mkt Cap11.381B |
| Day Range9.080 - 9.340 | 52 Wk Range4.750 - 10.820 |
Gold has continued to be 1 of the safest stores of value for decades. Most people investing in gold today have never actually seen gold bullion in person. The government makes you jump through hoops to own real gold, but gold penny stocks are only a few mouse clicks away.
Here, we’ll take a look at how to invest in low-cost gold stocks to protect your portfolio and possibly benefit from growth in the precious metal asset class.
Quick Look at the Best Gold Penny Stocks:
- Platinum Group Metals Ltd
- Avino Silver & Gold Mines, Ltd
- Harmony Gold Mining Co
- Kinross Gold Corporation
Overview: Gold Stocks
Of all the precious metals, gold has always been the most popular investment vehicle. Some experts believe this is because of gold’s utility as a malleable metal. Others think that the value of gold is mostly nostalgic because it was used as the value standard for U.S. currency until 1971. That year’s Nixon Shock economic policy measures suspended the direct conversion between paper money and gold and created the fiat currency we have today.
Before gold stocks became widely available, gold was traded in pure bullion and certificates. In 1933, Executive Order 6102 prohibited American citizens from owning or trading gold bullion. The 1934 United States Gold Reserve Act required that all Americans give up their gold and gold certificates into the possession of the United States Treasury. Both measures were taken to fight the deflationary monetary cycle of the Great Depression.
Many people still believe it’s illegal to own physical gold but this is not true. The measures of the 1930s were relaxed in the 1970s with Public Law 93-373. It’s now quite possible but difficult for the average American citizen to own gold bullion.
Easier methods of investing in gold today include stocks, options, certificates, exchange-traded funds (ETFs), closed-end funds (CEFs), exchange-traded notes (ETNs), futures and contracts for differences (CFDs). All of these investment vehicles are known as derivatives of gold.
Owning pure gold became less common after the 1930s. Gold stocks and options appeared as a convenient way for investors to profit from the movement in gold prices and invest in gold mining operations. The 1st gold ETF, Gold Bullion Securities, appeared on the Australian stock exchange in March 2003 and held the ticker symbol GOLD.
Best Online Brokers for Gold Stock
The broker that you choose will have a huge effect on your success rate in trading gold penny stocks. Good execution, solid uptime and an intuitive user interface are just some of the features that you should look for. Consider the table below of reputable online brokers.
- Best For:Active and Global TradersVIEW PROS & CONS:Securely through Interactive Brokers’ website
- Best For:Global Broker for Short SellingVIEW PROS & CONS:securely through TradeZero's website
Get a Deal with Gold Penny Stocks
Gold continues to be a popular investment in low-cost speculation markets. If you are looking to invest in a commodity that has held its own, you can’t get much better than gold.
Consider the added risks of investing in gold derivatives before committing yourself to your plays. When it comes to moving in the marketplace, not all gold is created equal.
Frequently Asked Questions
What are gold penny stocks?
Gold penny stocks are shares in low-value companies involved in the gold industry.
Is gold a good investment?
Gold is considered a good long-term investment.
Which gold penny stocks should I buy?
You can look at Benzinga’s list of the best gold penny stocks on the above list.
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