The gold price, pressured by the rising US dollar and attractive bond yields, neared nine-month lows this week.

Like the wider markets, gold is reacting badly to rising bond yields, Brien Lundin, editor of Gold Newsletter, told MarketWatch.

A rising dollar and strength in bond yields can make gold less attractive to buyers seeking safe-haven investments.

“What we’re seeing right now is the pre-fight face-off between the Fed [US Federal Reserve] and financial markets,” said Lundin.

“What’s coming is a battle royale wherein the markets are demanding that the Fed to do something to halt the rise in rates.”

The end game will mean either Fed action or a loss of credibility in the dollar — and under either scenario gold benefits, he says.

“Gold is suffering through this transition phase right now, but it will benefit greatly from the policies that will result.”

USD gold price over the past two years.

 

Winners & Losers

Here’s how ASX-listed gold & silver stocks are performing:

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

CODE COMPANY 1 WEEK CHANGE % 1 MONTH CHANGE % 6 MONTH CHANGE % 1 YEAR CHANGE % SHARE PRICE [INTRADAY FRI] MARKET CAP
ANL Amani Gold 50 50 -25 -25 0.0015 $ 16,180,495.12
VAN Vango Mining 39 9 -21 -32 0.075 $ 57,865,236.86
TMX Terrain Minerals 25 0 -33 150 0.01 $ 7,357,610.09
A1G African Gold 21 -4 75 151 0.23 $ 20,943,304.12
GUL Gullewa Limited 13 0 6 125 0.09 $ 16,413,579.00
RMS Ramelius Resources 12 -4 -34 12 1.39 $ 1,131,483,999.74
RXL Rox Resources 9 3 -38 48 0.037 $ 67,644,339.28
SIH Sihayo Gold 8 -13 -43 -4 0.013 $ 47,910,998.37
CWX Carawine Resources 8 60 60 44 0.345 $ 38,111,465.70
DRE Dreadnought Resources 6 -23 31 325 0.017 $ 38,451,406.50
DTM Dart Mining 6 6 -5 183 0.175 $ 17,490,458.30
TSO Tesoro Resources 5 -20 17 1124 0.205 $ 97,407,182.93
WWI West Wits Mining 4 4 270 573 0.074 $ 108,385,399.59
ZNC Zenith Minerals 4 0 32 178 0.125 $ 36,795,003.75
MCT Metalicity 4 -34 -54 381 0.0125 $ 21,203,931.06
SLR Silver Lake Resources 4 -8 -37 -11 1.41 $ 1,265,060,577.03
THR Thor Mining 3 -14 29 210 0.0155 $ 6,781,154.70
SKY SKY Metals 3 -13 27 -28 0.165 $ 40,697,221.62
AGS Alliance Resources 3 9 -24 94 0.18 $ 35,362,912.78
YRL Yandal Resources 2 15 88 147 0.45 $ 42,099,337.80
RGL Riversgold 2 0 -13 318 0.046 $ 19,824,882.05
OBM Ora Banda Mining 2 -21 -28 65 0.245 $ 214,766,599.04
RND Rand Mining 1 -11 -22 -18 1.6 $ 96,237,560.00
XTC Xantippe Resources 0 0 -33 0 0.002 $ 8,149,128.80
TNR Torian Resources 0 49 346 655 0.058 $ 45,223,936.32
SLZ Sultan Resources 0 -5 -14 157 0.19 $ 12,516,190.02
SFM Santa Fe Minerals 0 10 60 80 0.115 $ 8,374,160.74
PNM Pacific Nickel Mines 0 0 19 -43 0.057 $ 8,537,151.52
PNX PNX Metals 0 0 -27 60 0.008 $ 25,565,354.58
OKU Oklo Resources 0 -6 -31 -23 0.17 $ 85,685,068.04
OKR Okapi Resources 0 -5 0 188 0.19 $ 8,319,463.88
MRZ Mont Royal Resources 0 11 6 38 0.255 $ 8,966,934.90
MDI Middle Island Resources 0 -16 -41 0 0.23 $ 29,812,591.27
MSR Manas Resources 0 0 50 200 0.006 $ 16,561,641.59
KGM Kalnorth Gold 0 0 0 225 0.013 $ 11,625,120.78
KZR Kalamazoo Resources 0 -17 -34 -2 0.45 $ 62,851,888.32
GSM Golden State Mining 0 -10 -55 8 0.14 $ 8,560,253.70
GMR Golden Rim Resources 0 -10 -31 29 0.009 $ 22,763,647.22
GMN Gold Mountain 0 -9 -9 -32 0.041 $ 32,725,546.66
FAU First Au 0 -11 -6 113 0.017 $ 10,427,438.82
ENR Encounter Resources 0 14 3 76 0.16 $ 52,068,011.00
DCX Discovex Resources 0 -13 -13 75 0.007 $ 8,373,148.53
DTR Dateline Resources 0 50 50 50 0.003 $ 24,630,234.23
BNR Bulletin Resources 0 -11 -4 180 0.07 $ 12,550,515.18
BCN Beacon Minerals 0 8 14 18 0.04 $ 133,321,947.16
AVW Avira Resources 0 -9 -29 150 0.005 $ 6,875,200.00
CYL Catalyst Metals -1 -11 -19 -27 1.91 $ 196,591,446.00
PDI Predictive Discovery -1 -12 -17 733 0.0575 $ 58,987,269.16
AGG AngloGold Ashanti -1 -13 -34 -11 5.32 $ 463,880,378.00
MAU Magnetic Resources -1 9 3 184 1.48 $ 339,389,061.89
AAR Anglo Australian -1 -22 -52 -25 0.097 $ 58,311,830.02
ERM Emmerson Resources -2 -11 -30 -15 0.064 $ 30,902,647.94
ADN Andromeda Metals -2 15 533 738 0.31 $ 668,740,626.37
WRM White Rock Minerals -2 17 -8 98 0.595 $ 43,257,709.64
NML Navarre Minerals -2 -11 10 52 0.14 $ 87,222,744.16
DGO DGO Gold -1 2 -30 38 2.76 $ 202,267,307.00
RRL Regis Resources -2 -15 -42 -26 3 $ 1,551,442,049.37
NUS Nusantara Resources -2 -4 -12 0 0.26 $ 60,757,346.86
PRU Perseus Mining -2 -7 -21 4 1.09 $ 1,385,896,263.10
HXG Hexagon Energy -2 -17 60 153 0.096 $ 27,108,479.43
PNR Pantoro -2 -7 -11 131 0.21 $ 302,805,619.02
TAM Tanami Gold -2 -6 24 78 0.082 $ 96,357,957.77
PRX Prodigy Gold -2 -2 -35 -16 0.041 $ 23,805,731.85
NWM Norwest Minerals -2 -9 -40 -49 0.081 $ 8,816,054.50
HRN Horizon Gold -2 -25 -19 85 0.4 $ 36,436,480.01
MOH Moho Resources -3 -3 -29 4 0.078 $ 8,244,612.16
BRV Big River Gold -3 -11 -30 63 0.365 $ 82,246,149.38
CMM Capricorn Metals -3 -13 -25 19 1.46 $ 500,483,344.19
BDC Bardoc Gold -3 -16 -11 6 0.07 $ 123,196,173.70
CY5 Cygnus Gold -3 -6 -11 431 0.17 $ 16,210,514.70
FML Focus Minerals -3 -11 -27 40 0.33 $ 60,307,026.45
DEG De Grey Mining -3 -8 -34 362 0.855 $ 1,140,917,273.99
MML Medusa Mining -4 -6 -2 37 0.835 $ 183,967,871.39
AME Alto Metals -4 -11 -13 22 0.071 $ 30,258,700.92
MVL Marvel Gold -4 10 -16 -12 0.046 $ 24,414,914.78
SSR SSR Mining -4 -17 18.3 $ 304,861,375.00
WGX Westgold Resources. -4 -16 -12 -9 1.91 $ 830,756,329.20
NSM North Stawell -4 0 0.435 $ 17,400,000.00
GIB Gibb River Diamonds -5 7 47 81 0.078 $ 16,497,736.71
VMC Venus Metals -5 -21 -22 -5 0.19 $ 30,215,736.60
SBM St Barbara -5 -12 -43 -23 1.93 $ 1,389,555,484.58
WAF West African Resources -5 -18 -26 23 0.74 $ 668,721,007.88
NAG Nagambie Resources -5 6 17 22 0.055 $ 28,496,143.72
NST Northern Star -5 -21 -28 -32 9.53 $ 11,145,779,332.02
WCN White Cliff Minerals -5 -22 38 414 0.018 $ 9,309,535.18
ALK Alkane Resources -5 -18 -41 -18 0.67 $ 404,864,384.00
CHZ Chesser Resources -5 -19 -15 122 0.175 $ 78,897,109.38
RSG Resolute Mining -5 -12 -44 -35 0.61 $ 678,894,014.19
AOP Apollo Consolidated -6 -1 8 62 0.34 $ 101,017,206.50
TBR Tribune Res -6 -18 -39 -1 4.95 $ 260,766,342.69
G88 Golden Mile Resources -6 7 -13 -4 0.047 $ 6,396,953.06
AUC Ausgold -6 -8 28 188 0.046 $ 58,515,729.35
EMR Emerald Resources -6 -7 18 95 0.76 $ 391,701,877.32
NCM Newcrest Mining -6 -7 -25 -18 23.15 $ 19,140,085,156.96
VRC Volt Resources -6 -21 -6 36 0.015 $ 38,085,249.62
MZZ Matador Mining -6 -9 -30 67 0.3 $ 51,715,142.70
EMU EMU NL -6 16 97 97 0.059 $ 25,585,783.18
BYH Bryah Resources -6 -6 20 48 0.059 $ 8,905,349.46
MEU Marmota -7 -9 -10 43 0.043 $ 42,615,482.36
NVA Nova Minerals -7 -10 67 175 0.14 $ 242,142,263.82
SVY Stavely Minerals -7 2 43 18 0.745 $ 195,721,089.00
TSC Twenty Seven Co. -7 8 30 8 0.0065 $ 12,757,925.28
FFR Firefly Resources -7 -7 8 398 0.13 $ 43,469,482.14
DEX Duke Exploration -7 10 0.32 $ 19,911,213.63
STK Strickland Metals -7 -32 -58 25 0.025 $ 10,949,939.55
HRZ Horizon -8 -19 -31 15 0.097 $ 56,797,520.00
GNM Great Northern -8 0 -45 140 0.012 $ 9,987,115.64
CTO Citigold Corp -8 -8 0 200 0.012 $ 32,648,078.51
BRB Breaker Res NL -8 -14 -25 -20 0.18 $ 63,538,981.16
BNZ Benzmining -8 -33 0.84 $ 16,863,370.52
EVN Evolution Mining -8 -17 -31 -9 3.83 $ 6,680,888,302.35
MEG Megado -8 -8 0.175 $ 7,139,789.65
TLM Talisman Mining -8 -3 -20 31 0.092 $ 17,729,696.58
SAU Southern Gold -8 -10 -40 -33 0.09 $ 19,199,588.04
BC8 Black Cat Syndicate -8 -17 -22 86 0.615 $ 71,183,920.22
SPQ Superior Resources -8 -35 22 193 0.011 $ 15,147,809.14
RED Red 5 Limited -8 -23 -49 -48 0.165 $ 364,618,046.05
AGC AGC -8 -11 0.0165 $ 11,852,274.70
GWR GWR Group -8 -18 35 335 0.27 $ 83,266,271.83
KWR Kingwest Resources -9 -14 10 10 0.16 $ 24,591,017.28
TTM Titan Minerals -9 -13 -13 5 0.105 $ 113,945,243.40
SI6 SI6 Metals Limited -9 11 62 600 0.021 $ 27,860,255.28
HMX Hammer Metals -9 22 139 425 0.105 $ 82,509,547.12
S2R S2 Resources -9 -19 -21 69 0.15 $ 51,957,044.54
NES Nelson Resources. -9 -9 49 294 0.1 $ 14,445,780.80
MKG Mako Gold -9 -5 -20 59 0.1 $ 25,724,160.20
DDD 3D Resources Limited -9 0 0 150 0.005 $ 18,101,860.46
M2R Miramar -9 -14 0.22 $ 8,656,641.60
GOR Gold Road Res -9 -9 -30 -22 1.07 $ 954,718,351.58
ADT Adriatic Metals -9 -8 -9 67 2.04 $ 374,551,705.71
DCN Dacian Gold -9 -28 2 -61 0.335 $ 194,777,993.90
MAT Matsa Resources -9 -13 -43 -31 0.086 $ 23,318,616.97
BGL Bellevue Gold -10 -35 -34 18 0.655 $ 612,862,180.56
PRS Prospech Limited -10 -18 0 0.14 $ 9,102,882.46
ARV Artemis Resources -10 -34 -8 156 0.073 $ 84,120,559.46
TIE Tietto Minerals -10 -21 -42 34 0.315 $ 145,579,345.92
KRM Kingsrose Mining -10 0 18 50 0.045 $ 35,040,352.90
AYM Australia United Min -10 -10 80 350 0.009 $ 18,425,774.85
KTA Krakatoa Resources -10 -11 -18 27 0.062 $ 17,573,850.00
KCN Kingsgate Consolid. -10 -4 18 88 0.865 $ 203,603,346.00
WMX Wiluna Mining Corp -11 -21 -24 16 1.04 $ 125,870,393.24
MGV Musgrave Minerals -11 -23 -50 171 0.285 $ 157,300,769.96
ZAG Zuleika Gold -11 -15 18 48 0.04 $ 18,044,108.41
SRN Surefire Rescs NL -11 0 118 1100 0.024 $ 24,935,349.84
MHC Manhattan Corp -11 -41 -60 167 0.016 $ 21,220,459.09
CDT Castle Minerals -11 -11 -45 33 0.008 $ 5,860,006.54
ADV Ardiden -11 -27 -38 433 0.016 $ 34,288,990.14
AMI Aurelia Metals -11 -11 -28 -6 0.355 $ 462,872,446.88
AQX Alice Queen -11 -19 -28 10 0.03 $ 27,414,089.23
NXM Nexus Minerals -11 -15 31 133 0.093 $ 22,950,257.07
RML Resolution Minerals -12 -30 -67 -57 0.023 $ 9,320,165.82
PKO Peako Limited -12 -21 -35 124 0.023 $ 4,801,354.43
REZ Resourc & En Grp -12 -10 81 192 0.038 $ 16,835,550.77
GBR Greatbould Resources -12 -5 -19 22 0.038 $ 7,146,271.26
ALY Alchemy Resource -12 -17 -17 53 0.015 $ 9,411,408.34
RDN Raiden Resources -12 -8 100 340 0.022 $ 29,095,276.34
OAU Ora Gold Limited -12 0 10 29 0.022 $ 18,498,594.88
AQI Alicanto Min -12 0 -29 47 0.11 $ 37,595,508.02
AXE Archer Materials -12 17 94 386 0.875 $ 207,861,622.32
AUT Auteco Minerals -12 -24 -49 200 0.087 $ 137,911,746.37
HWK Hawkstone Mng -12 -20 112 620 0.036 $ 63,508,020.15
SVL Silver Mines Limited -12 -19 -16 138 0.2 $ 248,728,883.34
TAR Taruga Minerals -12 -10 -32 291 0.043 $ 20,574,067.77
CHN Chalice Mining -12 2 192 1533 4 $ 1,476,680,107.68
GBZ GBM Rsources -13 -16 -19 86 0.105 $ 43,301,806.00
CBY Canterbury Resources -13 9 -25 -38 0.105 $ 9,241,574.48
BAR Barra Resources -13 -13 -13 24 0.021 $ 14,229,770.12
CAZ Cazaly Resources -13 -2 3 64 0.041 $ 15,149,117.21
CAI Calidus Resources -13 -18 -32 25 0.375 $ 133,520,538.06
E2M E2 Metals -13 -40 70 134 0.34 $ 54,807,818.19
HAW Hawthorn Resources -13 -27 -31 19 0.073 $ 25,013,670.98
CST Castile Resources -13 -6 -35 22 0.165 $ 32,952,169.97
VKA Viking Mines -13 -15 246 543 0.039 $ 37,316,040.12
SMI Santana Minerals -13 -21 -38 -54 0.13 $ 15,964,569.04
KAI Kairos Minerals -13 -13 -41 248 0.026 $ 41,904,132.93
MEI Meteoric Resources -13 -19 57 314 0.058 $ 88,091,033.11
RVR Red River Resources -13 -2 73 241 0.225 $ 121,676,976.25
BBX BBX Minerals -14 -12 -9 76 0.255 $ 121,537,040.52
LCL Los Cerros Limited -14 -17 84 247 0.125 $ 61,206,864.29
CXU Cauldron Energy -14 -30 -3 107 0.031 $ 15,367,983.41
MTH Mithril Resources -14 -25 -65 80 0.018 $ 39,953,961.70
CEL Challenger Exp -15 -16 19 90 0.285 $ 165,728,153.70
TRY Troy Resources -15 -18 -32 -22 0.068 $ 54,544,591.30
AAJ Aruma Resources -15 -35 -43 100 0.06 $ 6,145,733.77
AZS Azure Minerals -16 -45 69 187 0.27 $ 84,723,573.28
ANX Anax Metals -16 36 162 723 0.064 $ 18,493,624.12
MTC Metalstech -16 -32 -24 150 0.13 $ 21,252,307.51
ONX Orminex -16 -21 -11 -47 0.031 $ 17,849,194.28
KAU Kaiser Reef -16 -14 0 31 0.38 $ 36,787,174.52
TMZ Thomson Res -17 -5 206 626 0.14 $ 46,406,993.78
PAK Pacific American Hld -17 -17 18 9 0.02 $ 7,008,867.80
NPM Newpeak Metals -17 -17 -17 25 0.0025 $ 12,185,403.25
LNY Laneway Res -17 -29 -38 0 0.005 $ 18,875,329.67
GML Gateway Mining -17 -19 14 79 0.025 $ 51,398,161.20
PUR Pursuit Minerals -17 86 286 728 0.054 $ 38,249,828.40
ARL Ardea Resources -17 6 -13 24 0.465 $ 65,750,349.73
STN Saturn Metals -17 -21 -54 -23 0.34 $ 39,047,223.60
TRM Truscott Mining Corp -17 26 50 200 0.024 $ 3,070,597.06
KSN Kingston Resources -18 -26 -27 12 0.185 $ 55,294,579.47
GRL Godolphin Resources -18 -24 0 0 0.185 $ 15,979,844.17
AWV Anova Metals -18 -25 -42 70 0.018 $ 28,661,884.00
AL8 Alderan Resource -19 -19 -44 365 0.079 $ 25,771,904.46
ARN Aldoro Resources -19 -15 112 34 0.195 $ 14,296,968.63
LEX Lefroy Exploration -19 200 135 275 0.6 $ 72,005,800.20
GTR Gti Resources -19 -32 -29 240 0.017 $ 11,601,323.96
AAU Antilles Gold -19 12 133 258 0.093 $ 18,928,739.95
IVR Investigator Res -20 -1 46 475 0.0805 $ 112,535,461.60
MKR Manuka Resources. -20 -10 -38 0.37 $ 35,598,017.07
FFX Firefinch -20 -3 -5 147 0.185 $ 148,578,705.15
GSN Great Southern -20 -29 -49 20 0.061 $ 30,486,368.14
PF1 Pathfinder Resources -20 -34 0.2 $ 9,696,217.05
MLS Metals Australia -20 0 0 100 0.002 $ 10,477,258.94
AMG Ausmex Mining Gp -20 -22 8 24 0.052 $ 31,891,891.95
NAE New Age Exploration -21 -15 38 267 0.011 $ 13,414,972.01
CLA Celsius Resource -22 -18 111 344 0.04 $ 37,849,377.48
SNG Siren Gold -22 -44 0.345 $ 22,401,533.08
CGN Crater Gold Min -22 -25 29 80 0.018 $ 23,322,421.47
BAT Battery Minerals -22 -14 67 257 0.025 $ 51,031,838.53
RMX Red Mount Min -23 -29 43 150 0.01 $ 12,513,224.89
GED Golden Deeps -23 -17 -29 0 0.01 $ 7,748,514.40
RDS Redstone Resources -23 -18 -43 64 0.0115 $ 8,627,988.76
PUA Peak Minerals -24 -4 -7 110 0.025 $ 15,982,268.95
SBR Sabre Resources -36 -44 -55 350 0.0045 $ 7,573,786.42
LCY Legacy Iron Ore -39 -52 180 600 0.014 $ 96,071,077.76

 

Small cap highlights

AMANI GOLD (ASX:ANL) +50%

(Up on no news)

Late last month, Amani Gold’s storied exec chairman Klaus Eckoff took on the additional role of managing director.

The minnow recently raised $3m to fund drilling, resource estimates and feasibility studies at the mammoth 4.4Moz Giro gold project in the Democratic Republic of the Congo.

 

VANGO MINING (ASX:VAN) +39%

(Up on no news)

The advanced gold explorer is busy growing resources at the flagship Marymia project in WA so it can “rapidly transition to completion of feasibility studies and the potential development”.

Marymia has an existing resource of 1 million ounces at 3 g/t gold, underpinned by the high grade 410,000oz at 8g/t ‘Trident’ deposit.

Drilling of open pit targets is planned for this coming field season to help with mining studies, the company says.

 

RAMELIUS RESOURCES (ASX:RMS) +12%

Punters responded positively to the miner’s presentation at the Global BMO Global Metals and Mining Conference this week.

Ramelius increased production by 57 per cent in the December half, which led to profit surging 297 per cent to $81 million compared to the December half in 2019.

Full year production guidance is 260,000 to 280,000oz at an all in sustaining cost (AISC) of between $1,230 – $1,330/oz.