The gold price bounced back this week above $US1,800/oz, but remains 11 per cent down on highs set in August.

So, where do gold and silver go from here?

Up, says Metals Focus. Significantly.

The precious metals consultancy – like almost everyone else — reckons macroeconomic conditions will continue to favour gold and silver investors in 2021.

“Precious metals have come under significant pressure recently as investors revisit cyclical stocks after news of the vaccine started to come through,” Metals Focus director Neil Meader says.

“But we doubt whether this will be sustained. It will take time for the vaccine to be widely deployed.”

This plus geopolitical risks and rising inflation expectations should continue to underpin gold investment.

The gold price is forecast to regain the $US2,000 threshold before challenging $US2,300 next year, Meader says.

“Once the gold rally resumes, tactical buying will help fuel further price gains for silver,” he says.

Silver is projected to trade well above $30 in 2021, he says, with the annual average rising by 40 per cent to $US28.60.

USD gold price over the past year.

Winners & Losers

Here’s how  ASX-listed gold stocks performed November 30 – December 04 [intraday].

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

CODE COMPANY WEEKLY CHANGE % YEARLY CHANGE % PRICE [intraday Friday] MARKET CAP
SI6 SI6 Metals 83 450 0.0165 $ 16,639,000.07
SRN Surefire Resources 65 1600 0.051 $ 37,244,210.64
PUR Pursuit Minerals 50 222 0.032 $ 15,447,046.08
VKA Viking Mines 39 235 0.029 $ 9,097,817.82
SNG Siren Gold 36 0 0.75 $ 41,366,279.50
DTR Dateline Resources 33 0 0.002 $ 16,420,156.15
GWR GWR Group 33 168 0.22 $ 53,240,762.64
M2R Miramar 29 0 0.36 $ 14,146,219.20
NUS Nusantara Resources 27 -18 0.325 $ 71,074,632.17
LNY Laneway Resources 25 7 0.0075 $ 28,312,994.50
ZNC Zenith Minerals 22 159 0.14 $ 44,154,004.50
TTM Titan Minerals 19 -31 0.125 $ 122,669,460.98
AMG Ausmex Mining 18 -48 0.046 $ 25,188,142.26
CLA Celsius Resources 18 229 0.046 $ 36,670,249.81
A1G African Gold 17 -2 0.165 $ 5,650,477.92
PUA Peak Minerals 17 79 0.027 $ 14,787,910.69
LCY Legacy Iron Ore 17 218 0.007 $ 37,483,431.10
CBY Canterbury Resources 16 -45 0.11 $ 9,681,649.45
CAI Calidus Resources 16 153 0.595 $ 156,125,313.50
TIE Tietto Minerals 15 63 0.425 $ 192,019,443.80
AAJ Aruma Resources 14 167 0.008 $ 11,125,897.33
WGX Westgold Resources 13 28 2.52 $ 1,059,638,175.00
AVW Avira Resources 13 350 0.009 $ 12,375,360.00
WAF West African Resources 12 134 0.96 $ 852,246,647.27
DEG De Grey Mining 12 2510 1.13 $ 1,431,824,868.32
RGL Riversgold 12 360 0.046 $ 17,808,643.85
OKR Okapi Resources 12 19 0.19 $ 6,127,287.22
MKR Manuka Resources 12 0 0.475 $ 31,883,448.08
MEU Marmota 12 118 0.048 $ 46,489,617.12
RVR Red River Resources 12 107 0.29 $ 150,154,566.43
GIB Gibb River Diamonds 11 574 0.155 $ 33,841,511.20
CYL Catalyst Metals 11 -15 2.71 $ 225,179,184.60
KSN Kingston Resources 11 142 0.315 $ 68,159,521.97
GML Gateway Mining 10 88 0.032 $ 60,999,713.15
CEL Challenger Exploration 10 207 0.215 $ 116,009,707.59
VRC Volt Resources 10 -8 0.011 $ 23,291,109.11
PNM Pacific Nickel Mines 10 -45 0.055 $ 7,344,453.16
OKU Oklo Resources 10 76 0.22 $ 115,819,523.58
PRX Prodigy Gold 10 -27 0.057 $ 32,515,145.94
BRV Big River Gold 9 247 0.059 $ 78,994,976.28
RMX Red Mount Mining 9 100 0.012 $ 12,444,547.38
AOP Apollo Consolidated 9 40 0.3 $ 82,074,154.95
MKG Mako Gold 9 45 0.12 $ 29,491,605.79
TMZ Thomson Resources 9 241 0.087 $ 26,707,218.30
TAR Taruga Minerals 9 194 0.05 $ 22,402,873.79
NAE New Age Exploration 8 333 0.013 $ 13,329,364.92
ONX Orminex 8 -73 0.026 $ 14,016,656.37
GRL Godolphin Resources 8 0 0.27 $ 21,536,186.58
MZZ Matador Mining 8 35 0.345 $ 57,023,284.27
CTO Citigold Corp 8 180 0.014 $ 37,459,424.93
AWV Anova Metals 8 218 0.028 $ 37,260,449.20
GMN Gold Mountain 7 -41 0.044 $ 32,057,146.62
BAT Battery Minerals 7 275 0.0225 $ 48,178,929.58
EMR Emerald Resources 7 55 0.64 $ 324,700,240.41
AAR Anglo Australian 7 76 0.15 $ 88,351,257.60
FFX Firefinch 7 118 0.155 $ 121,195,623.91
HXG Hexagon Energy 7 -10 0.064 $ 17,838,437.22
SPQ Superior Resources 7 184 0.016 $ 17,863,561.23
DGO DGO Gold 7 247 3.09 $ 210,140,244.00
SSR SSR Mining 6 0 26.41 $ 427,778,099.84
AME Alto Metals 6 209 0.105 $ 42,005,518.07
AGG AngloGold Ashanti 6 8 6.15 $ 548,627,754.75
RXL Rox Resources 6 184 0.054 $ 110,690,737.00
GNM Great Northern 6 100 0.018 $ 15,434,633.27
CWX Carawine Resources 6 15 0.275 $ 28,855,824.03
PRU Perseus Mining 6 29 1.2 $ 1,452,877,390.95
MEG Megado 6 0 0.185 $ 7,279,259.57
GTR GTI Resources 6 138 0.019 $ 11,556,323.96
TAM Tanami Gold 6 100 0.076 $ 88,132,278.45
BGL Bellevue Gold 6 169 1.33 $ 1,164,770,538.01
AAU Antilles Gold 5 82 0.06 $ 11,708,498.94
ALY Alchemy Resources 5 71 0.02 $ 12,772,625.61
MML Medusa Mining 5 11 0.78 $ 161,040,583.28
HWK Hawkstone Mining 5 50 0.0105 $ 15,115,734.42
LEX Lefroy Exploration 5 14 0.21 $ 23,860,266.60
NML Navarre Minerals 5 112 0.21 $ 116,732,562.47
CDT Castle Minerals 5 22 0.011 $ 8,057,509.00
SAU Southern Gold 5 -44 0.11 $ 22,399,519.38
DRE Dreadnought Resources 5 283 0.023 $ 54,284,338.58
ALK Alkane Resources 5 79 1.04 $ 622,181,296.00
YRL Yandal Resources 4 87 0.47 $ 36,773,538.37
ARV Artemis Resources 4 314 0.12 $ 130,727,896.46
SLZ Sultan Resources 4 289 0.245 $ 17,035,925.31
PKO Peako 4 12 0.025 $ 4,609,300.25
KAI Kairos Minerals 4 302 0.0375 $ 56,962,735.58
AUT Auteco Minerals 4 1011 0.1 $ 156,717,893.60
SVY Stavely Minerals 4 -10 0.9 $ 237,474,921.32
REZ Resources & Energy Group 4 80 0.054 $ 23,742,443.40
RDN Raiden Resources 4 350 0.027 $ 15,131,168.63
AXE Archer Materials 4 315 0.54 $ 120,287,552.11
SLR Silver Lake Resources 4 54 1.82 $ 1,608,874,949.88
AMI Aurelia Metals 4 4 0.43 $ 469,798,884.35
MHC Manhattan Corp 4 383 0.029 $ 38,462,082.10
GOR Gold Road Resources 3 16 1.26 $ 1,121,904,053.70
ARN Aldoro Resources 3 -3 0.16 $ 9,957,120.45
KTA Krakatoa Resources 3 67 0.065 $ 18,410,700.00
TNR Torian Resources 3 186 0.033 $ 24,684,470.62
CMM Capricorn Metals 3 52 1.7 $ 584,757,171.90
DCN Dacian Gold 3 -59 0.35 $ 197,560,536.67
DTM Dart Mining 3 91 0.185 $ 17,990,185.68
HMX Hammer Metals 3 41 0.038 $ 27,539,809.07
BCN Beacon Minerals 3 9 0.038 $ 106,071,861.81
ERM Emmerson Resources 3 -37 0.079 $ 37,179,748.30
SVL Silver Mines 3 138 0.205 $ 215,574,173.22
HRN Horizon Gold 2 113 0.44 $ 38,631,448.68
CAZ Cazaly Resources 2 92 0.046 $ 16,231,197.02
NWM Norwest Minerals 2 -42 0.098 $ 10,230,976.83
KCN Kingsgate Consolidated 2 94 0.785 $ 177,587,362.90
TSO Tesoro Resources 2 626 0.295 $ 122,037,890.19
ANX Anax Metals 2 485 0.065 $ 18,315,424.12
RMS Ramelius Resources 1 76 1.76 $ 1,460,276,165.13
VAN Vango Mining 1 -53 0.073 $ 71,538,678.29
BDC Bardoc Gold 1 -4 0.074 $ 128,087,145.82
NCM Newcrest Mining 1 -7 27.24 $ 22,569,622,599.76
MAU Magnetic Resources 1 130 1.16 $ 252,803,511.09
CDV Cardinal Resources 0 258 1.08 $ 578,210,904.68
AYM Australia United Mines 0 200 0.009 $ 16,583,197.37
ANL Amani Gold 0 -25 0.0015 $ 9,386,996.75
MLS Metals Australia 0 33 0.002 $ 8,381,807.15
CST Castile Resources 0 0 0.29 $ 52,923,182.07
ADV Ardiden 0 425 0.021 $ 44,584,299.56
SIH Sihayo Gold 0 22 0.02 $ 67,678,315.38
MOH Moho Resources 0 119 0.105 $ 7,494,653.60
AGS Alliance Resources 0 93 0.19 $ 33,877,015.20
CXU Cauldron Energy 0 40 0.035 $ 16,127,982.43
CGN Crater Gold Mines 0 40 0.021 $ 25,777,413.21
DCX Discovex Resources 0 -14 0.006 $ 7,176,984.46
HAW Hawthorn Resources 0 98 0.1 $ 32,684,530.07
HRZ Horizon 0 8 0.105 $ 59,637,396.00
KAU Kaiser Reef 0 0 0.41 $ 10,957,250.41
KGM Kalnorth Gold 0 225 0.013 $ 11,625,120.78
KRM Kingsrose Mining 0 24 0.036 $ 27,740,279.38
MSR Manas Resources 0 180 0.007 $ 16,561,641.59
NPM Newpeak Metals 0 0 0.003 $ 14,004,487.53
TMX Terrain Minerals 0 200 0.012 $ 8,829,132.11
TSC Twenty Seven Co. 0 20 0.006 $ 12,717,925.28
VMC Venus Metals 0 19 0.22 $ 35,503,490.51
DAU Dampier Gold 0 220 0.064 $ 18,271,760.32
STN Saturn Metals 0 109 0.7 $ 77,009,802.10
BRB Breaker Resources 0 -43 0.175 $ 55,392,957.93
MAT Matsa Resources 0 -8 0.12 $ 32,537,605.08
KWR Kingwest Resources 0 -3 0.17 $ 26,127,955.86
EMU EMU NL 0 -9 0.042 $ 14,847,228.31
LCL Los Cerros 0 19 0.125 $ 56,223,542.64
NSM North Stawell 0 0 0.475 $ 19,000,000.00
SBM St Barbara 0 -2 2.53 $ 1,833,931,096.40
SFM Santa Fe Minerals 0 38 0.098 $ 7,136,241.32
AUC Ausgold 0 292 0.051 $ 67,618,176.13
MCT Metalicity 0 390 0.017 $ 29,532,978.24
GMR Golden Rim Resources 0 -23 0.01 $ 18,809,089.65
EVN Evolution Mining -1 22 4.98 $ 8,731,288,804.35
TRY Troy Resources -1 -21 0.087 $ 62,225,420.28
NST Northern Star -1 30 12.72 $ 9,617,689,005.54
GSN Great Southern -1 -5 0.073 $ 32,757,870.24
CHN Chalice Gold Mines -2 2135 3.8 $ 1,232,329,335.30
WMX Wiluna Mining -2 22 1.47 $ 146,687,608.90
OBM Ora Banda Mining -2 83 0.29 $ 252,242,329.50
PDI Predictive Discovery -2 622 0.057 $ 57,267,900.74
MVL Marvel Gold -2 -44 0.056 $ 27,466,779.13
AZS Azure Minerals -2 544 0.805 $ 202,762,872.11
SAR Saracen -2 57 4.76 $ 5,383,115,421.48
RED Red 5 -2 -4 0.26 $ 522,290,714.61
TBR Tribune Resources -2 1 6.27 $ 326,351,438.94
CHZ Chesser Resources -2 219 0.22 $ 90,006,948.68
RRL Regis Resources -2 -21 3.74 $ 2,015,280,918.86
SKY SKY Metals -2 125 0.2 $ 49,329,965.60
PNR Pantoro -2 33 0.2 $ 295,763,627.88
RML Resolution Minerals -2 -20 0.04 $ 11,737,843.24
RSG Resolute Mining -3 -32 0.78 $ 872,075,237.74
SMI Santana Minerals -3 -34 0.185 $ 19,381,554.60
BNR Bulletin Resources -3 248 0.073 $ 13,088,394.40
BAR Barra Resources -3 41 0.031 $ 20,328,243.03
GBZ GBM Rsources -3 287 0.14 $ 54,357,819.39
AQI Alicanto Minerals -4 160 0.13 $ 39,230,095.32
GBR Great Boulder Resources -4 4 0.05 $ 9,214,928.73
WWI West Wits Mining -4 1117 0.073 $ 88,779,287.26
NAG Nagambie Resources -4 7 0.048 $ 23,996,752.61
OAU Ora Gold -4 20 0.024 $ 21,861,975.77
ARL Ardea Resources -4 -27 0.44 $ 57,451,761.90
MGV Musgrave Minerals -5 322 0.405 $ 195,812,836.85
FAU First Au -5 100 0.02 $ 10,761,692.72
RND Rand Mining -5 -15 1.99 $ 119,695,465.25
THR Thor Mining -5 200 0.018 $ 8,365,910.22
KZR Kalamazoo Resources -4 85 0.545 $ 69,398,960.02
ENR Encounter Resources -6 31 0.17 $ 53,377,408.35
FFR Firefly Resources -6 263 0.16 $ 47,966,325.12
AL8 Alderan Resource -6 188 0.092 $ 24,610,482.25
NES Nelson Resources. -6 9 0.059 $ 6,773,326.38
GSM Golden State Mining -7 252 0.215 $ 12,743,145.00
GED Golden Deeps -7 -42 0.014 $ 7,555,669.79
GUL Gullewa -7 250 0.098 $ 15,502,923.80
AQX Alice Queen -7 -10 0.027 $ 30,558,179.93
NXM Nexus Minerals -7 207 0.135 $ 31,739,717.23
NVA Nova Minerals -8 447 0.175 $ 292,240,663.23
BC8 Black Cat Syndicate -8 86 0.66 $ 75,029,613.56
PAK Pacific American -8 -20 0.022 $ 6,920,867.80
BYH Bryah Resources -9 42 0.064 $ 8,835,547.28
G88 Golden Mile Resources -9 20 0.049 $ 6,150,916.40
FML Focus Minerals -10 47 0.33 $ 63,048,254.93
WCN White Cliff Minerals -10 460 0.028 $ 14,479,775.77
CY5 Cygnus Gold -10 400 0.175 $ 18,912,267.15
MEI Meteoric Resources -10 24 0.061 $ 74,412,860.76
S2R S2 Resources -11 117 0.25 $ 77,148,338.86
MRZ Mont Royal Resources -11 18 0.29 $ 10,072,451.15
MTC Metalstech -11 400 0.2 $ 29,313,527.60
BBX BBX Minerals -12 88 0.3 $ 129,857,316.37
MTH Mithril Resources -12 175 0.022 $ 45,915,653.21
TLM Talisman Mining -13 7 0.105 $ 20,529,122.35
E2M E2 Metals -13 267 0.66 $ 104,760,884.20
SBR Sabre Resources -14 280 0.0095 $ 18,348,413.18
RDS Redstone Resources -14 0 0.012 $ 6,271,560.19
MDI Middle Island Resources -14 140 0.012 $ 33,370,171.73
TRM Truscott Mining Corp -14 125 0.018 $ 2,302,947.79
ADN Andromeda Metals -19 344 0.24 $ 499,904,568.24
XTC Xantippe Resources -20 0 0.002 $ 8,149,128.80
DDD 3D Resources -25 200 0.0045 $ 18,076,860.46
STK Strickland Metals -40 300 0.06 $ 25,206,091.26
PRS Prospech 10 10 0.22 $13,004,117.80

 

Small Cap Standouts

SI6 METALS (ASX:Si6) +83%

Market Cap: ~$16.6m

SI6 Metals (ASX:SI6) has the option to buy an early stage gold project in WA called Monument, which is interesting because it is nestled between recently announced merger partners Dacian Gold (ASX:DCN) and NTM Gold (ASX:NTM):

Miner Dacian will buy NTM for ~$96.4 million to consolidate its Mt Morgans operations with NTM’s Redcliff gold project, about 100km away.

Hitting something significant at Monument could place SI6 in the crosshairs for a takeover. A first pass RC drilling program is currently in the works.

SUREFIRE RESOURCES (ASX:SRN) +65%

Market Cap: ~$37m

In November 2019, disappointing results from a highly promising drilling program at the flagship Victory Bore project sent Surefire Resources’ (ASX:SRN) share price into a tailspin.

This week the WA explorer announced thick, high grade gold in its first ever drill program at the newly acquired Yidby project.

The stock is now up almost 1,200 per cent over the past six months. What a recovery.

VIKING MINES (ASX:VKA) +39%

Market cap: ~$9m

Minnow Viking Mines (ASX:VKA) is still charging after announcing plans to buy the historic high grade First Hit gold project on November 26.

The project includes the historical First Hit Mine and numerous advanced exploration targets, “each with the potential to be repeats of the First Hit Mine as no mining or exploration has been undertaken on the project for ~ 18 years”, the company says.

The 90-year-old First Hit mine last operated between 2001-2002, producing 30,830oz at grades of about 13g/t.

SIREN GOLD (ASX:SNG) +36%

Market Cap: ~$41m

NZ-focused explorer Siren Gold (ASX:SNG) is up almost +100 per cent since listing in November.

No news this week, but gold assays are pending from the ‘Big River’ project, where old timers produced about 136,000oz at an average recovered grade of 34g/t between 1880-1942.

More recent drilling by a previous company – which wasn’t followed up until now – hit 20m at 8.1g/t.

DATELINE RESOURCES (ASX:DTR) +33%

Market Cap: ~$16m

It’s been a tough year, says Dateline Resources (ASX:DTR).

COVID-19 travel restrictions meant the Aussie based, US-focused explorer had to shift its strategy “from aggressive exploration and development” to bunkering down until things changed.

On the upside, Dateline is optimistic about the development of its high grade Gold Links project in Colorado, which includes several historic gold mines.

“Dateline has initiated discussions with a number of US institutions to provide a long-term working capital facility that would enable the company to pursue its objective of developing the Gold Links project,” Dateline chairman Mark Johnson said December 4.

“Provided these discussions lead to success, the company will be able to move ahead rapidly with the planned development at the Gold Links properties.

“In addition to the above, the company assessed several USA based mining projects with a view to adding to our portfolio of gold properties in the USA.”