2 mining stocks cashing in on gold's shine

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Gold prices are on the move again, solidifying gains after second-quarter gross domestic product showed upwardly-revised growth. Combined with the near-certainty of an interest rate cut from the Federal Reserve at the central bank's meeting next month, the safe-haven asset has been flying high, up over 22% in 2024. Gold miners Barrick Gold Corp and Newmont Corporation are enjoying the tailwinds as well.

Options seem to be affordably priced. The equity's Schaeffer's Volatility Index of 29% ranks in the relatively low 18th percentile of its 12-month range, meaning options traders are pricing in low volatility expectations right now. While calls outpace puts on an absolute basis, Newmont's 10-day put/call volume ratio over at the International Securities Exchange , Cboe Options Exchange , and NASDAQ OMX PHLX stands higher than 98% of annual readings. This means puts have been getting picked up at a quicker-than-usual clip lately. Given only a slim 1.

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Gold market analysis for July 31 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
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