It’s been a chaotic week for gold prices, book-ended by the US election and promising vaccine news. The latter caused gold prices to fall sharply as investors piled back into value stocks.

It has since recovered to ~$US1,880/oz.

“I think it will move back towards $US2,000 per ounce relatively quickly,” says Guy Le Page.

“We’re running out of time [but] I’m still standing by $US2,300 per ounce by early next year.”

And remember — this bull run is still young.

“If you’re a student of history, what you’ll see over the last 50/60 years is that real gold bull markets are of substantial duration,” legendary gold investor Rick Rule told Stockhead earlier this week.

“They typically last upwards of eight years, and by my reckoning we’re into this one for around 18 months.”

Structural bull markets like this one act as ‘a rising tide which lift all boats’ where gold-linked equity indexes — not just the best stocks — “still rise by “500-600 per cent” over the long term.

$USD gold price over the past 12 months.

ASX gold stocks actually did okay this week, despite the tumult. 104 went up, 77 went down, and 36 didn’t move.

Winners & Losers

Here’s how ASX-listed gold stocks performed November 09 – November 13 [intraday].

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:

CODE COMPANY 1 WEEK RETURN % 1 YEAR RETURN % PRICE [intraday Friday] MARKET CAP
CGN Crater Gold Mining 255 160 0.039 $ 60,147,297.48
AZS Azure Minerals 117 386 0.705 $ 157,425,201.05
ANX Anax Metals 96 332 0.048 $ 11,655,269.89
TMZ Thomson Resources 74 342 0.12 $ 18,073,685.50
ANL Amani Gold 50 -25 0.0015 $ 14,080,495.12
SKY SKY Metals 35 188 0.23 $ 56,729,460.44
RVR Red River Resources 31 90 0.275 $ 139,799,079.09
TMX Terrain Minerals 27 367 0.014 $ 10,124,254.13
SNG Siren Gold 25 0 0.52 $ 28,472,926.53
HXG Hexagon Energy 23 -21 0.058 $ 17,253,570.42
GBZ GBM Resources 23 398 0.185 $ 68,120,660.73
ADN Andromeda Metals 22 477 0.225 $ 372,838,267.82
E2M E2 Metals 21 378 0.86 $ 109,186,654.38
TRM Truscott Mining Corp 20 200 0.025 $ 2,950,597.06
BNR Bulletin Resources 20 300 0.084 $ 15,060,618.22
GIB Gibb River Diamonds 19 434 0.155 $ 30,901,416.75
GTR GTI Resources 19 90 0.019 $ 12,198,341.96
DRE Dreadnought Resources 18 225 0.026 $ 56,296,186.03
BYH Bryah Resources 18 49 0.073 $ 9,626,790.32
OKR Okapi Resources 18 25 0.2 $ 7,208,573.20
CTO Citigold Corp 17 180 0.014 $ 34,133,751.72
HAW Hawthorn Resources 16 128 0.11 $ 36,686,717.43
THR Thor Mining 16 267 0.022 $ 8,715,667.49
HRZ Horizon 15 -12 0.115 $ 68,157,024.00
PDI Predictive Discovery 15 723 0.069 $ 67,314,900.87
SVY Stavely Minerals 15 -25 0.885 $ 225,731,655.98
CY5 Cygnus Gold 15 457 0.195 $ 20,470,335.80
MKR Manuka Resources 15 0 0.47 $ 32,970,383.81
LNY Laneway Resources 14 33 0.008 $ 26,425,461.53
WCN White Cliff Minerals 14 450 0.033 $ 16,016,291.95
AAU Antilles Gold 14 72 0.05 $ 10,732,790.70
CHN Chalice Gold Mines 14 1791 3.31 $ 1,003,127,027.50
GWR GWR Group 13 89 0.17 $ 45,049,876.08
WWI West Wits Mining 13 1640 0.087 $ 96,879,386.93
NML Navarre Minerals 13 152 0.265 $ 146,459,380.77
ARN Aldoro Resources 13 0 0.135 $ 8,629,504.39
AYM Australia United Mining 13 800 0.009 $ 16,583,197.37
GNM Great Northern Minerals 13 112 0.018 $ 14,442,503.14
AWV Anova Metals 12 175 0.029 $ 41,559,731.80
BGL Bellevue Gold 11 198 1.37 $ 1,091,866,714.90
ARL Ardea Resources 11 -16 0.49 $ 63,196,938.09
PRX Prodigy Gold 11 -43 0.049 $ 27,289,497.48
SBR Sabre Resources 11 233 0.01 $ 12,506,462.58
KAI Kairos Minerals 10 319 0.043 $ 70,365,732.19
SVL Silver Mines 10 147 0.225 $ 225,839,610.04
NWM Norwest Minerals 10 -43 0.115 $ 8,391,711.20
AUC Ausgold 9 321 0.059 $ 79,321,322.00
SLZ Sultan Resources 9 258 0.24 $ 15,992,909.47
NVA Nova Minerals 9 374 0.18 $ 278,355,102.30
TLM Talisman Mining 9 20 0.12 $ 22,395,406.20
ONX Orminex 9 -72 0.024 $ 12,938,452.03
KRM Kingsrose Mining 9 12 0.037 $ 26,280,264.67
BAR Barra Resources 9 68 0.037 $ 24,285,891.64
AXE Archer Materials 8 316 0.52 $ 118,039,186.65
GMR Golden Rim Resources 8 0 0.013 $ 23,287,444.32
KSN Kingston Resources 8 71 0.265 $ 62,248,612.86
ARV Artemis Resources 8 366 0.135 $ 164,395,825.97
PNR Pantoro 8 32 0.205 $ 295,763,627.88
RDS Redstone Resources 8 40 0.014 $ 7,316,820.22
PUR Pursuit Minerals 8 88 0.014 $ 7,713,159.71
SMI Santana Minerals 8 2 0.215 $ 22,000,683.60
SRN Surefire Resources 7 357 0.032 $ 20,100,916.48
MTC Metalstech 7 1131 0.16 $ 22,717,983.89
STN Saturn Metals 6 122 0.745 $ 80,806,059.95
S2R S2 Resources 6 139 0.275 $ 86,595,074.23
RSG Resolute Mining 6 -26 0.825 $ 888,633,628.33
BRB Breaker Resources 6 -39 0.19 $ 60,280,571.87
MCT Metalicity 6 338 0.019 $ 31,270,212.25
ALY Alchemy Resources 5 71 0.02 $ 13,444,869.06
STK Strickland Metals 5 400 0.1 $ 42,010,152.10
EMU EMU NL 5 27 0.061 $ 21,210,326.16
AMG Ausmex Mining 5 -58 0.042 $ 23,545,437.33
OBM Ora Banda Mining 5 82 0.325 $ 273,262,523.63
LEX Lefroy Exploration 5 7 0.22 $ 26,076,251.52
CBY Canterbury Resources 5 -54 0.115 $ 9,994,841.13
TTM Titan Minerals 4 -33 0.12 $ 128,245,345.57
SFM Santa Fe Minerals 4 45 0.12 $ 7,645,972.85
AMI Aurelia Metals 4 16 0.505 $ 441,361,817.49
CYL Catalyst Metals 4 7 2.61 $ 216,005,217.82
PAK Pacific American Holdings 4 -13 0.027 $ 8,493,792.30
BRV Big River Gold 4 244 0.055 $ 72,300,486.76
PKO Peako 4 94 0.029 $ 5,682,213.51
MTH Mithril Resources 4 383 0.029 $ 60,525,179.23
DEG De Grey Mining 4 1989 1.17 $ 1,444,609,018.93
SBM St Barbara 3 7 2.74 $ 1,869,196,529.65
GOR Gold Road Resources 3 25 1.4 $ 1,179,099,162.32
AQX Alice Queen 3 -16 0.031 $ 32,195,225.29
CLA Celsius Resources 3 162 0.034 $ 25,747,196.67
NXM Nexus Minerals 3 254 0.17 $ 32,869,784.07
NES Nelson Resources 3 5 0.069 $ 7,921,347.80
TSO Tesoro Resources 3 749 0.345 $ 143,078,905.74
TAM Tanami Gold 3 93 0.077 $ 89,307,375.50
ENR Encounter Resources 3 18 0.2 $ 62,566,951.00
GMN Gold Mountain 2 -36 0.044 $ 30,345,146.66
CAZ Cazaly Resources 2 77 0.045 $ 15,837,447.02
MHC Manhattan Corp 2 588 0.0275 $ 34,483,246.02
G88 Golden Mile Resources 2 -11 0.059 $ 7,258,081.35
CWX Carawine Resources 2 17 0.305 $ 29,362,005.66
SSR SSR Mining 1 0 26.58 $ 406,705,287.04
KTA Krakatoa Resources 1 90 0.074 $ 19,868,400.00
EVN Evolution Mining 1 50 5.94 $ 9,619,492,541.20
BDC Bardoc Gold 1 -23 0.076 $ 133,279,867.95
KCN Kingsgate Consolididated 1 82 0.775 $ 171,931,714.40
NCM Newcrest Mining 1 -2 29.92 $ 23,696,470,616.68
CDV Cardinal Resources 0 220 1.04 $ 554,006,727.27
RRL Regis Resources 0 -9 4.12 $ 2,045,970,476.00
PRU Perseus Mining 0 47 1.26 $ 1,465,137,959.65
XTC Xantippe Resources 0 0 0.002 $ 8,149,128.80
MLS Metals Australia 0 33 0.002 $ 8,381,807.15
DTR Dateline Resources 0 0 0.002 $ 16,420,156.15
RMX Red Mount Mining 0 133 0.014 $ 15,838,514.85
SIH Sihayo Gold 0 34 0.022 $ 74,446,146.92
MOH Moho Resources 0 90 0.11 $ 8,244,118.96
VRC Volt Resources 0 -23 0.01 $ 21,173,735.55
FFR Firefly Resources 0 253 0.21 $ 61,456,854.06
BAT Battery Minerals 0 257 0.025 $ 49,208,751.17
A1G African Gold 0 -14 0.16 $ 5,022,647.04
AAJ Aruma Resources 0 75 0.007 $ 11,125,897.33
DCX Discovex Resources 0 -33 0.006 $ 7,176,984.46
GED Golden Deeps 0 -36 0.014 $ 7,555,669.79
KAU Kaiser Reef 0 0 0.41 $ 10,957,250.41
KGM Kalnorth Gold 0 117 0.013 $ 11,625,120.78
MSR Manas Resources 0 100 0.006 $ 15,858,974.93
MEU Marmota 0 92 0.046 $ 44,552,549.74
NPM Newpeak Metals 0 17 0.0035 $ 13,995,487.53
SI6 Six Sigma Metals 0 150 0.01 $ 11,092,666.71
TSC Twenty Seven Co. 0 75 0.007 $ 10,847,406.55
VMC Venus Metals 0 45 0.24 $ 37,769,670.75
MML Medusa Mining 0 14 0.8 $ 163,118,526.29
FFX Firefinch 0 94 0.155 $ 127,059,745.48
GML Gateway Mining 0 6 0.018 $ 34,238,088.65
KZR Kalamazoo Resources 0 110 0.63 $ 83,147,810.59
CHZ Chesser Resources 0 246 0.235 $ 98,189,398.56
LCL Los Cerros 0 48 0.155 $ 70,183,803.30
RML Resolution Minerals 0 -31 0.043 $ 12,017,315.69
NAE New Age Exploration 0 367 0.014 $ 15,550,925.74
DDD 3D Resources 0 200 0.006 $ 21,692,232.55
AME Alto Metals 0 248 0.115 $ 45,681,803.40
GUL Gullewa 0 283 0.115 $ 18,163,456.50
WAF West African Resources 0 144 1.03 $ 856,639,671.23
RND Rand Mining -1 -11 2.27 $ 142,551,885.75
FML Focus Minerals -1 36 0.375 $ 68,530,711.88
BC8 Black Cat Syndicate -1 73 0.72 $ 81,649,873.58
M2R Miramar -1 0 0.36 $ 15,413,044.80
MAU Magnetic Resources -2 119 1.14 $ 246,321,369.78
NUS Nusantara Resources -2 -8 0.285 $ 60,585,099.36
WMX Wiluna Mining -2 50 1.8 $ 180,847,737.00
TBR Tribune Resources -2 -3 6.82 $ 359,406,327.45
NST Northern Star -2 68 15.09 $ 10,447,566,639.30
MZZ Matador Mining -2 90 0.4 $ 68,022,503.60
DTM Dart Mining -3 59 0.185 $ 18,489,913.06
BCN Beacon Minerals -3 12 0.037 $ 106,071,257.49
SAR Saracen Mineral Holdings -3 72 5.63 $ 5,804,017,450.32
TNR Torian Resources -3 148 0.031 $ 23,141,691.21
MEI Meteoric Resources -3 -7 0.056 $ 70,692,217.72
ZNC Zenith Minerals -4 150 0.135 $ 42,682,204.35
FAU First Au -4 108 0.027 $ 14,528,285.17
RXL Rox Resources -4 141 0.053 $ 110,474,737.00
TAR Taruga Minerals -4 230 0.051 $ 24,688,881.32
SLR Silver Lake Resource -4 89 2 $ 1,691,921,320.32
PUA Peak Minerals -4 43 0.025 $ 14,240,210.30
WGX Westgold Resources -4 18 2.5 $ 1,034,206,858.80
GBR Great Boulder Resources -4 -12 0.048 $ 8,838,809.19
SAU Southern Gold -4 -48 0.1 $ 26,666,094.50
EMR Emerald Resources -4 53 0.595 $ 306,661,338.17
HWK Hawkstone Mining -4 28 0.0115 $ 16,627,307.86
RGL Riversgold -4 309 0.045 $ 18,204,391.49
NSM North Stawell -4 0 0.45 $ 18,400,000.00
BBX BBX Minerals -4 83 0.33 $ 140,501,358.69
YRL Yandal Resources -4 131 0.545 $ 44,882,587.55
HMX Hammer Metals -4 105 0.043 $ 31,261,404.89
DGO DGO Gold -4 223 3.21 $ 226,250,996.04
GSN Great Southern -5 24 0.082 $ 34,109,574.44
MEG Megado -5 0 0.2 $ 7,849,469.80
CEL Challenger Exploration -5 213 0.2 $ 112,351,881.80
ERM Emmerson Resources -5 -28 0.079 $ 38,145,456.05
CAI Calidus Resources -5 146 0.59 $ 158,817,129.25
MAR Malachite Resources -5 -43 0.057 $ 8,314,475.28
KWR Kingwest Resources -5 -22 0.19 $ 29,970,302.31
VKA Viking Mines -5 90 0.019 $ 6,274,357.12
SPQ Superior Resources -5 174 0.018 $ 20,245,369.39
DCN Dacian Gold -5 -58 0.35 $ 194,777,993.90
RDN Raiden Resources -6 386 0.034 $ 18,493,650.55
AGG AngloGold Ashanti -6 17 6.59 $ 585,202,938.40
CMM Capricorn Metals -6 76 1.72 $ 584,757,171.90
RMS Ramelius Resources -6 82 1.93 $ 1,492,276,056.80
MVL Marvel Gold -7 -50 0.057 $ 30,009,999.42
MDI Middle Island Resources -7 180 0.014 $ 38,813,333.68
RED Red 5 -7 -7 0.26 $ 502,498,155.26
AOP Apollo Consolidated -7 60 0.32 $ 86,110,588.80
OAU Ora Gold -8 0 0.024 $ 20,180,285.33
OKU Oklo Resources -8 81 0.235 $ 118,337,339.31
AUT Auteco Minerals -8 1122 0.11 $ 156,717,893.60
AL8 Alderan Resources -9 146 0.096 $ 26,181,364.10
MKG Mako Gold -9 14 0.1 $ 24,619,079.62
AAR Anglo Australian -9 61 0.15 $ 86,128,257.60
CST Castile Resources -9 0 0.29 $ 55,918,833.88
MRZ Mont Royal Resources -9 7 0.29 $ 9,246,840.40
AVW Avira Resources -10 350 0.009 $ 12,375,360.00
AQI Alicanto Minerals -10 137 0.135 $ 37,903,087.89
DAU Dampier Gold -10 265 0.062 $ 17,667,553.48
GRL Godolphin Resources -10 0 0.265 $ 19,710,485.15
TIE Tietto Minerals -10 28 0.385 $ 178,465,130.12
NAG Nagambie Resources -11 -9 0.05 $ 24,996,617.30
MAT Matsa Resources -11 -14 0.125 $ 32,537,605.08
TRY Troy Resources -11 -7 0.1025 $ 80,527,014.48
LCY Legacy Iron Ore -13 139 0.007 $ 49,977,908.14
GSM Golden State Mining -13 181 0.225 $ 11,808,515.00
MGV Musgrave Minerals -13 552 0.45 $ 213,656,528.25
AGS Alliance Resources -14 62 0.19 $ 32,094,014.40
CDT Castle Minerals -14 33 0.012 $ 7,590,009.82
VAN Vango Mining -14 -55 0.078 $ 75,513,049.30
HRN Horizon Gold -20 37 0.36 $ 31,607,548.92
ALK Alkane Resources -22 68 1.03 $ 610,273,520.00
REZ Resources & Energy Group -23 89 0.066 $ 30,649,336.02
CXU Cauldron Energy -24 144 0.044 $ 19,711,978.53
ADV Ardiden -25 575 0.027 $ 57,322,670.87

SMALL CAP STANDOUTS

Minnow  Crater Gold Mining (ASX:CGN) spiked hard Thursday on no news before paring some of those gains the following day.

In a response to the query from the ASX, Crater says other than a recent announcement regarding high indium assays in drill core “the company is no aware of any other explanation…” and so on.

That hoary old chestnut.

Last Friday Anax Metals (ASX:ANX) — formerly known as Aurora Minerals — re-listed on the ASX and promptly surged higher. That run continued into the new week.

The company has joined the ASX boards with new plan to acquire up to 80 per cent of the Whim Creek Copper-Zinc Project from VentureX Resources (ASX:VXR).

It’s also on the hunt for gold in exploration ground next door to De Grey’s (ASX:DEG) Mallina project.

ASX investors continued to warm to Thomson Resources’ (ASX:TMZ) plan to acquire two silver deposits in NSW from Silver Mines (ASX:SVL).

The stock put on up to 40 per cent in Friday’s morning session, after gaining 30 per cent on Thursday.

Red River Resources (ASX:RVR) had a good week after announcing it had defined an extensive high-grade silver-indium system at its Orient project in northern Queensland.

Indium again. What’s going on with indium this week?

Ah yes, thermistors. Of course.