2 mining stocks cashing in on gold's shine

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Gold,Silver,Platinum

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

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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