Gold Digger: Gold’s little brother silver is officially along for the ride

This week, gold ascended new highs. The record rally which saw gold blow past $US2,070/oz ($2,851/oz) also took silver with it.

Based on historical silver data, there has only ever been two occasions when the silver price has run hard — and both times followed recessions.

History also tells us that silver has the ability to outperform its precious metal rival once it gets going:

Gold (right side) and silver (left side) USD prices over the past decade.

Silver has now reached $US29.37/oz, up 151 per cent from its mid-March low of $11.70/oz.

Gold is currently up ~40 per cent over the same period.

Are there stocks missing from our list? Email reuben@stockhead.com.au >>>

So, where does gold (and silver) go from here?

“Given the continued tumble of the dollar and gold’s ascendancy to $2,070, I’m inclined to think that $2,150 would be an achievable near-term target,” says Barani Krishnan, senior commodities analyst at Investing.com.

“Even if the NFP [US non-farm payrolls] report for July surprises to the upside and triggers a correction in gold, the downward move would not be much given that another US COVID-19 stimulus bill is coming,” he says.

“The Fed has also signalled that it will keep rates ultra-low to support the economy, suggesting that any rebound on the Dollar Index will be limited.”

Winners & Losers

Here’s how ASX-listed gold stocks performed for the period August 03–07 [intraday]:

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

CODE	NAME	1 WEEK TOTAL RETURN %	1 YEAR TOTAL RETURN %	PRICE [INTRADAY FRI]	MARKET CAP
EQE	EQUUS MINING	54	33	0.02	$ 33,000,000.00
AGS	ALLIANCE RESOURCES	50	164	0.235	$ 32,094,014.00
SMI	SANTANA MINERALS	50	0	0.003	$ 6,709,864.00
MEI	METEORIC RESOURCES	41	72	0.056	$ 61,565,716.00
TSC	TWENTY SEVEN CO	40	40	0.006	$ 8,174,765.00
KGM	KALNORTH GOLD MINES	40	180	0.017	$ 9,836,641.00
GSM	GOLDEN STATE MINING	39	417	0.425	$ 19,647,670.00
TSO	TESORO RESOURCES	30	330	0.185	$ 85,732,904.00
AWV	ANOVA METALS	29	225	0.04	$ 51,128,700.00
DHR	DARK HORSE RESOURCES	25	-38	0.0025	$ 8,072,737.00
MKR	MANUKA RESOURCES	25		0.59	$ 146,620,448.00
SVL	SILVER MINES	23	181	0.2875	$ 262,632,512.00
PUA	PURE ALUMINA	23	26	0.026	$ 9,709,612.00
TAR	TARUGA MINERALS	23	162	0.049	$ 18,745,672.00
ARV	ARTEMIS RESOURCES	22	257	0.098	$ 110,567,296.00
DRE	DREADNOUGHT RESOURCES	20	300	0.014	$ 21,011,988.00
MTH	MITHRIL RESOURCES	20	500	0.032	$ 50,878,104.00
RGL	RIVERSGOLD	20	352	0.06	$ 18,766,558.00
STN	SATURN METALS	19	130	0.92	$ 79,157,416.00
AYR	ALLOY RESOURCES	19	115	0.044	$ 18,134,160.00
A1G	AFRICAN GOLD	19	15	0.2	$ 10,296,177.00
MCT	METALICITY	18	200	0.026	$ 35,347,760.00
AUC	AUSGOLD	17	156	0.047	$ 38,716,984.00
MML	MEDUSA MINING	17	11	0.96	$ 201,560,464.00
CLA	CELSIUS RESOURCES	17	5	0.021	$ 14,824,144.00
DEG	DE GREY MINING	17	1382	0.83	$ 1,003,296,064.00
PRX	PRODIGY GOLD NL	16	-39	0.085	$ 48,772,720.00
ERM	EMMERSON RESOURCES	16	-8	0.12	$ 48,310,908.00
AOP	APOLLO CONSOLIDATED	16	80	0.405	$ 102,256,328.00
TRY	TROY RESOURCES	15	13	0.115	$ 58,781,932.00
DCN	DACIAN GOLD	15	-36	0.38	$ 211,400,352.00
WWI	WEST WITS MINING	15	188	0.023	$ 22,508,778.00
LEX	LEFROY EXPLORATION	15	50	0.315	$ 30,146,024.00
SFM	SANTA FE MINERALS	14	-11	0.081	$ 5,170,134.00
AUT	AUTECO MINERALS	14	4100	0.21	$ 336,943,456.00
ONX	ORMINEX	13	-69	0.043	$ 23,720,496.00
MAU	MAGNETIC RESOURCES NL	13	256	1.62	$ 316,391,584.00
VAN	VANGO MINING	13	-25	0.13	$ 108,081,288.00
ARL	ARDEA RESOURCES	13	57	0.61	$ 69,207,256.00
ALY	ALCHEMY RESOURCES	12	52	0.019	$ 9,358,914.00
AAR	ANGLO AUSTRALIAN RESOURCES	11	199	0.195	$ 91,023,304.00
SIH	SIHAYO GOLD	11	94	0.034	$ 60,835,332.00
BGL	BELLEVUE GOLD	10	89	1.145	$ 878,748,352.00
CST	CASTILE RESOURCES	10		0.27	$ 52,923,184.00
AAJ	ARUMA RESOURCES	10	38	0.005	$ 5,456,483.50
PGI	PANTERRA GOLD	10	38	0.045	$ 8,586,233.00
BNR	BULLETIN RESOURCES	10	169	0.078	$ 14,164,153.00
AZS	AZURE MINERALS	10	77	0.175	$ 29,630,818.00
GBZ	GBM RESOURCES	10	210	0.12	$ 34,482,380.00
WAF	WEST AFRICAN RESOURCES	9	203	1.1	$ 971,088,832.00
NUS	NUSANTARA RESOURCES	9	54	0.355	$ 71,462,400.00
PDI	PREDICTIVE DISCOVERY	8	479	0.09	$ 65,910,900.00
TMX	TERRAIN MINERALS	8	367	0.014	$ 9,401,093.00
CHN	CHALICE GOLD MINES	7	564	1.095	$ 342,867,488.00
DAU	DAMPIER GOLD	6	14	0.034	$ 9,102,097.00
RDS	REDSTONE RESOURCES	6	70	0.017	$ 6,691,500.50
GMR	GOLDEN RIM RESOURCES	6	0	0.017	$ 25,018,700.00
NXM	NEXUS MINERALS	6	56	0.076	$ 11,219,331.00
OAU	ORA GOLD	6	90	0.017	$ 15,135,214.00
RED	RED 5	6	0	0.29	$ 529,089,216.00
AQI	ALICANTO MINERALS	5	60	0.1	$ 20,268,362.00
SBM	ST BARBARA	5	1	3.565	$ 2,545,564,416.00
CWX	CARAWINE RESOURCES	5	37	0.205	$ 14,681,085.00
RXL	ROX RESOURCES	5	195	0.062	$ 132,653,848.00
MZZ	MATADOR MINING LIMITED	5	59	0.47	$ 71,408,432.00
BAR	BARRA RESOURCES	4	9	0.024	$ 14,316,378.00
DTM	DART MINING NL	4	140	0.245	$ 18,739,776.00
CAI	CALIDUS RESOURCES	4	78	0.625	$ 158,545,936.00
EVN	EVOLUTION MINING	4	25	6.1	$ 10,431,013,888.00
ARS	ALT RESOURCES	4	82	0.05	$ 32,304,834.00
NST	NORTHERN STAR RESOURCES	4	31	16	$ 12,170,780,672.00
MTC	METALSTECH	4	1556	0.245	$ 34,173,264.00
RMS	RAMELIUS RESOURCES	4	89	2.235	$ 1,781,159,296.00
SLR	SILVER LAKE RESOURCES	4	97	2.56	$ 2,271,037,952.00
TLM	TALISMAN MINING	4	69	0.15	$ 26,127,974.00
MOH	MOHO RESOURCES NL	4	190	0.145	$ 9,199,802.00
CMM	CAPRICORN METALS	4	151	2.08	$ 704,793,024.00
MLL	MALI LITHIUM	3	31	0.155	$ 47,602,216.00
HRZ	HORIZON MINERALS	3	3	0.175	$ 67,946,280.00
WGX	WESTGOLD RESOURCES	3	25	2.435	$ 1,016,957,248.00
TTM	TITAN MINERALS	3	-16	0.1625	$ 158,647,968.00
SAU	SOUTHERN GOLD	3	18	0.155	$ 19,249,314.00
AMG	AUSMEX MINING GROUP	3	-69	0.033	$ 18,617,322.00
RSG	RESOLUTE MINING	3	-27	1.345	$ 1,516,387,072.00
NCM	NEWCREST MINING	3	3	36.31	$ 29,892,714,496.00
BC8	BLACK CAT SYNDICATE	3	129	0.88	$ 92,006,520.00
KCN	KINGSGATE CONSOLIDATED	3	77	0.595	$ 125,555,400.00
TAM	TANAMI GOLD NL	3	44	0.079	$ 88,132,280.00
OKR	OKAPI RESOURCES	3	17	0.205	$ 7,388,787.50
GMN	GOLD MOUNTAIN	2	-11	0.049	$ 33,983,120.00
CYL	CATALYST METALS	2	19	2.69	$ 215,063,216.00
TBR	TRIBUNE RESOURCES	2	5	7.48	$ 396,133,984.00
MEU	MARMOTA	2	176	0.058	$ 55,177,920.00
OKU	OKLO RESOURCES	2	113	0.33	$ 153,586,752.00
EMR	EMERALD RESOURCES NL	2	68	0.67	$ 324,304,768.00
HXG	HEXAGON ENERGY MATERIALS	2	-26	0.066	$ 17,546,004.00
AXE	ARCHER MATERIALS	1	243	0.395	$ 96,472,576.00
KTA	KRAKATOA RESOURCES	1	283	0.089	$ 22,138,750.00
RRL	REGIS RESOURCES	1	7	5.775	$ 2,988,729,600.00
GUL	GULLEWA	0	217	0.095	$ 15,425,444.00
CGN	CRATER GOLD MINING	0	-50	0.011	$ 12,274,959.00
VRC	VOLT RESOURCES	0	7	0.019	$ 36,369,996.00
DCX	DISCOVEX RESOURCES	0	50	0.009	$ 10,765,477.00
CXU	CAULDRON ENERGY	0	40	0.028	$ 10,536,115.00
NAE	NEW AGE EXPLORATION	0	300	0.012	$ 8,887,804.00
ARM	AURORA MINERALS	0	69	0.022	$ 5,153,864.50
ANL	AMANI GOLD	0	-50	0.0015	$ 15,676,393.00
MAR	MALACHITE RESOURCES	0	-40	0.06	$ 5,005,398.50
MLS	METALS AUSTRALIA	0	50	0.003	$ 6,414,705.50
GML	GATEWAY MINING	0	25	0.021	$ 33,433,582.00
MSR	MANAS RESOUCES	0	25	0.005	$ 14,537,394.00
RML	RESOLUTION MINERALS	0	145	0.077	$ 19,869,242.00
CY5	CYGNUS GOLD	0	134	0.18	$ 12,911,428.00
GRL	GODOLPHIN RESOURCES	0		0.24	$ 15,634,342.00
DTR	DATELINE RESOURCES	0	-50	0.002	$ 16,420,156.00
AVW	AVIRA RESOURCES	0	100	0.006	$ 6,875,000.00
BBX	BBX MINERALS	0	-16	0.2	$ 77,208,216.00
SKY	SKY METALS	0	138	0.155	$ 38,112,640.00
NES	NELSON RESOURCES	0	67	0.069	$ 7,978,749.00
GOR	GOLD ROAD RESOURCES	0	34	1.815	$ 1,636,659,968.00
PRU	PERSEUS MINING	-1	103	1.515	$ 1,818,550,656.00
FML	FOCUS MINERALS	-1	26	0.45	$ 82,236,856.00
AME	ALTO METALS	-1	170	0.088	$ 27,503,792.00
DGR	DGR GLOBAL	-1	-11	0.077	$ 52,120,480.00
ALK	ALKANE RESOURCES	-2	224	1.165	$ 705,369,920.00
BYH	BRYAH RESOURCES	-2	-26	0.057	$ 7,253,061.00
VMC	VENUS METALS CORP	-2	21	0.25	$ 40,035,852.00
NVA	NOVA MINERALS	-2	79	0.05	$ 58,396,368.00
CDV	CARDINAL RESOURCES	-2	95	0.72	$ 376,107,520.00
CHZ	CHESSER RESOURCES	-2	490	0.23	$ 85,814,480.00
SAR	SARACEN MINERAL HOLDINGS	-2	36	5.87	$ 6,640,008,704.00
KZR	KALAMAZOO RESOURCES LIMITED	-2	170	0.69	$ 89,283,880.00
BDC	BARDOC GOLD	-2	-7	0.083	$ 141,341,312.00
BCN	BEACON MINERALS	-3	-12	0.038	$ 108,842,784.00
E2M	E2 METALS	-3	-25	0.195	$ 23,616,034.00
G88	GOLDEN MILE RESOURCES	-3	-6	0.064	$ 5,796,873.00
KWR	KINGWEST RESOURCES	-3	-30	0.17	$ 20,723,914.00
HMX	HAMMER METALS	-3	92	0.049	$ 26,705,704.00
MAT	MATSA RESOURCES	-3	-6	0.165	$ 32,924,768.00
ARN	ALDORO RESOURCES	-4	-4	0.135	$ 7,928,333.50
GNM	GREAT NORTHERN MINERALS	-4	67	0.026	$ 19,730,092.00
TIE	TIETTO MINERALS	-4	232	0.605	$ 222,915,280.00
MDI	MIDDLE ISLAND RESOURCES	-4	200	0.023	$ 55,009,200.00
ERX	EXORE RESOURCES	-4	47	0.115	$ 64,829,172.00
BRV	BIG RIVER GOLD	-5	124	0.039	$ 48,765,420.00
HRN	HORIZON GOLD LIMITED	-5	189	0.53	$ 44,825,076.00
TNR	TORIAN RESOURCES	-5	56	0.019	$ 13,165,015.00
WMX	WILUNA MINING CORP	-5	33	1.325	$ 136,639,296.00
BRB	BREAKER RESOURCES NL	-5	-30	0.27	$ 63,793,364.00
SLZ	SULTAN RESOURCES	-5	150	0.17	$ 9,966,301.00
DGO	DGO GOLD	-6	291	3.05	$ 188,196,832.00
ADN	ANDROMEDA METALS	-6	47	0.047	$ 73,152,816.00
GSN	GREAT SOUTHERN MINING	-6	190	0.15	$ 59,318,888.00
CDT	CASTLE MINERALS	-7	180	0.014	$ 6,325,008.00
ADV	ARDIDEN	-7	333	0.015	$ 31,077,804.00
GBR	GREAT BOULDER RESOURCES	-7	12	0.052	$ 6,939,607.50
KRM	KINGSROSE MINING	-7	-19	0.038	$ 27,010,272.00
RND	RAND MINING	-8	-31	2.2	$ 141,950,400.00
NAG	NAGAMBIE RESOURCES	-8	10	0.055	$ 27,496,280.00
VKA	VIKING MINES	-9	0	0.01	$ 3,137,178.50
PUR	PURSUIT MINERALS	-10	125	0.02	$ 7,841,952.00
GWR	GWR GROUP	-13	-36	0.07	$ 20,375,698.00
RMX	RED MOUNTAIN MINING	-13	75	0.008	$ 7,091,257.50
HAW	HAWTHORN RESOURCES	-14	177	0.16	$ 51,694,920.00
SBR	SABRE RESOURCES	-14	-40	0.003	$ 5,002,585.00
GED	GOLDEN DEEPS	-14	-54	0.013	$ 3,858,367.75
NWM	NORWEST MINERALS	-15	-36	0.13	$ 9,222,420.00
MKG	MAKO GOLD	-19	15	0.125	$ 20,004,282.00
XTC	XANTIPPE RESOURCES	-20	-33	0.002	$ 10,047,522.00
LNY	LANEWAY RESOURCES	-20	-11	0.008	$ 32,088,060.00
CTO	CITIGOLD CORP	-30	133	0.015	$ 39,017,600.00

Weekly Small Cap Highlights

Drilling will restart at Equus Mining’s (ASX:EQE) high-grade, development-ready Cerro Bayo silver-gold project in southern Chile later this month.

Late last year, Equus signed a binding deal with TSX-listed miner Mandalay Resources to acquire the Cerro Bayo Mine district and infrastructure in Southern Chile.

This includes a processing plant which has produced about 600,000oz of gold and 45 million ounces of silver since 1995.

Alliance Resources (ASX:AGS) surged after hitting thick high grades at the 181,000oz Weedanna gold deposit in South Australia.

The 8m long intercept grading 21.1 grams per tonne (g/t) was located in a new, high-grade gold shoot “illustrating potential to grow the resource at depth”, the company says.

Formerly Brazil-focused explorer Meteoric Resources (ASX:MEI) is about to start drilling its newly acquired Palm Springs project in Halls Creek, WA.

Twenty Seven Co (ASX:TSC) almost doubled the size of its flagship Rover project to 461sqkm this week. The new ground includes three, largely unexplored historic gold targets.