Gold – seen as a hedge against broader market volatility —  is at five-month lows after vaccine hopes and the prospects of a smooth Biden transition improved risk appetite.

Precious metals stocks have followed.

For gold bugs, it looks something like this:

Which isn’t the end of the world if you believe the consensus view — that gold prices are going to leg up again pretty soon — and as see it as an opportunity to buy the dip.

 ANZ analysts, the legendary Rick Rule, Metals Focus … they all stress that longer-term drivers for the gold price, like low interest rates and a weak US dollar, are still very much in place.

Keep the faith.

This week 50 ASX gold stocks went up, 142 went down, and 25 didn’t move.

It’s been a tough month, with 158 – or 72 per cent – of the stocks on our list in the red.

Winners & Losers

Here’s how ASX-listed gold stocks performed November 23 – November 27 [intraday].

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 % PRICE [INTRADAY FRI] MARKET CAP
E2M E2 Metals -10 229 393 317 0.75 $ 112,992,096.53
ANX Anax Metals 60 182 107 548 0.072 $ 17,760,411.26
AZS Azure Minerals 8 147 868 683 0.9 $ 200,319,945.94
ADN Andromeda Metals -16 86 286 575 0.27 $ 614,466,031.80
CGN Crater Gold Mines 10 83 175 47 0.022 $ 25,777,413.21
GIB Gibb River Diamonds -7 53 107 460 0.14 $ 28,841,322.30
AAU Antilles Gold -12 46 21 90 0.057 $ 11,123,073.99
ARN Aldoro Resources -15 45 -6 -9 0.145 $ 10,289,024.47
MTC Metalstech 8 43 39 367 0.215 $ 32,977,718.55
SMI Santana Minerals -9 33 300 -7 0.195 $ 19,905,380.40
SKY SKY Metals -7 32 0 86 0.195 $ 50,563,214.74
RVR Red River Resources -5 29 327 77 0.265 $ 134,621,335.42
CHN Chalice Gold Mines 1 28 253 2274 3.68 $ 1,192,178,254.20
PRX Prodigy Gold 12 28 7 -29 0.056 $ 30,192,635.51
SVY Stavely Minerals -2 26 39 -20 0.885 $ 225,731,655.98
VKA Viking Mines 30 24 225 160 0.026 $ 7,529,228.54
CLA Celsius Resources 14 17 215 193 0.041 $ 30,428,505.16
BYH Bryah Resources -8 17 30 53 0.069 $ 9,231,168.80
NPM Newpeak Metals 14 14 60 33 0.004 $ 16,338,568.78
SAR Saracen Mineral Holdings -8 14 81 60 4.85 $ 5,372,039,052.30
SAU Southern Gold -11 14 213 -52 0.098 $ 22,399,519.38
HXG Hexagon Energy 7 13 -9 -14 0.062 $ 17,546,003.82
GRL Godolphin Resources -4 12 180 0 0.245 $ 19,940,913.50
HAW Hawthorn Resources -5 11 -4 118 0.105 $ 33,351,561.30
TNR Torian Resources -3 10 11 153 0.034 $ 24,684,470.62
ERM Emmerson Resources -6 9 43 -38 0.075 $ 37,179,748.30
AXE Archer Materials -4 9 -25 312 0.535 $ 116,915,003.92
KSN Kingston Resources 20 9 62 103 0.295 $ 65,706,869.13
MKG Mako Gold 10 9 97 44 0.115 $ 28,209,362.06
FFR Firefly Resources -3 9 566 327 0.195 $ 50,964,220.44
ONX Orminex 8 8 -50 -71 0.026 $ 12,938,452.03
CY5 Cygnus Gold -3 8 255 427 0.195 $ 21,073,669.11
CDV Cardinal Resources 6 6 159 277 1.08 $ 575,521,551.63
A1G African Gold 13 6 100 6 0.18 $ 4,708,731.60
KRM Kingsrose Mining 0 6 -10 13 0.035 $ 26,280,264.67
GOR Gold Road Resources -2 5 -20 17 1.25 $ 1,073,508,192.56
OAU Ora Gold 4 4 25 25 0.025 $ 21,021,130.55
NXM Nexus Minerals -13 4 169 218 0.14 $ 34,415,992.30
MEI Meteoric Resources 17 3 229 33 0.069 $ 84,334,575.53
BGL Bellevue Gold -4 3 68 167 1.24 $ 1,071,248,815.98
BCN Beacon Minerals -5 3 -3 9 0.037 $ 106,071,861.81
CYL Catalyst Metals -6 0 -13 -3 2.53 $ 204,329,260.10
ANL Amani Gold 50 0 -25 -25 0.0015 $ 14,080,495.12
DCX Discovex Resources 30 0 8 -7 0.0065 $ 7,176,984.46
TLM Talisman Mining 4 0 30 30 0.12 $ 22,395,406.20
S2R S2 Resources 4 0 135 139 0.275 $ 88,169,530.12
ARL Ardea Resources 0 0 46 -25 0.46 $ 58,728,467.72
AAJ Aruma Resources 0 0 100 75 0.007 $ 11,125,897.33
BNR Bulletin Resources 0 0 23 257 0.075 $ 13,446,980.55
HRZ Horizon 0 0 -8 10 0.011 $ 59,637,396.00
KAU Kaiser Reef 0 0 17 0 0.41 $ 10,957,250.41
KGM Kalnorth Gold 0 0 63 225 0.013 $ 11,625,120.78
MLS Metals Australia 0 0 100 33 0.002 $ 8,381,807.15
PUR Pursuit Minerals 0 0 179 74 0.013 $ 9,916,919.63
BAT Battery Minerals -4 0 72 267 0.022 $ 42,156,563.38
GBZ GBM Resources -12 0 154 223 0.15 $ 58,384,324.53
MHC Manhattan Corp -13 0 115 460 0.028 $ 37,135,803.40
GSN Great Southern -14 0 55 -8 0.073 $ 30,781,811.08
MSR Manas Resources -14 0 50 100 0.006 $ 16,561,641.59
PDI Predictive Discovery -11 -2 -39 553 0.058 $ 58,272,600.75
CAZ Cazaly Resources 0 -2 59 96 0.045 $ 16,231,197.02
SI6 Six Sigma Metals 25 -2 60 213 0.0125 $ 9,983,400.04
PNR Pantoro 0 -3 -7 34 0.195 $ 288,721,636.74
NVA Nova Minerals -14 -3 246 414 0.185 $ 293,819,274.65
BRV Big River Gold 8 -4 83 244 0.055 $ 72,300,486.76
AWV Anova Metals -4 -4 35 207 0.027 $ 38,693,543.40
WAF West African Resources -3 -4 15 121 0.905 $ 751,207,096.31
CMM Capricorn Metals -1 -4 6 64 1.65 $ 565,838,557.52
SLR Silver Lake Resources -5 -4 93 69 1.78 $ 1,542,115,786.75
RSG Resolute Mining 2 -4 -31 -28 0.79 $ 877,594,701.27
AME Alto Metals -5 -5 69 200 0.105 $ 39,605,202.75
DTM Dart Mining 6 -5 118 86 0.18 $ 17,990,185.68
RML Resolution Minerals -2 -5 -39 -33 0.04 $ 11,458,370.78
TRM Truscott Mining -5 -5 46 138 0.019 $ 2,558,830.88
MCT Metalicity -5 -5 157 419 0.018 $ 29,532,978.24
CHZ Chesser Resources -12 -6 165 221 0.225 $ 92,052,561.15
OBM Ora Banda Mining -5 -6 17 86 0.295 $ 248,038,290.68
MML Medusa Mining -5 -6 4 7 0.73 $ 153,767,782.74
TAM Tanami Gold -4 -6 41 92 0.072 $ 84,606,987.31
FML Focus Minerals -5 -6 44 33 0.36 $ 66,703,226.23
RDS Redstone Resources 8 -7 133 17 0.014 $ 7,316,820.22
SSR SSR Mining -4 -7 -41 0 24.28 $ 402,490,724.48
AQX Alice Queen -10 -7 4 -7 0.028 $ 31,649,543.50
SBR Sabre Resources 20 -7 -34 200 0.012 $ 13,757,108.84
STN Saturn Metals 0 -7 -7 106 0.69 $ 75,925,157.00
AUC Ausgold Limited -7 -7 264 292 0.051 $ 66,317,826.59
BC8 Black Cat Syndicate -5 -7 39 78 0.695 $ 79,443,120.24
BAR Barra Resources -11 -8 -20 45 0.032 $ 21,683,459.23
KCN Kingsgate Consolidated 11 -8 75 93 0.77 $ 174,193,973.80
NUS Nusantara Resources -4 -8 -17 -17 0.275 $ 54,207,720.48
SFM Santa Fe Minerals -18 -9 0 38 0.098 $ 7,136,241.32
MOH Moho Resources -9 -9 35 110 0.105 $ 7,869,386.28
RXL Rox Resources -4 -9 93 136 0.052 $ 104,337,251.61
SBM St Barbara -3 -9 -22 1 2.52 $ 1,784,553,667.93
KZR Kalamazoo Resources -7 -9 -15 107 0.56 $ 73,981,910.21
PRU Perseus Mining -4 -9 -10 33 1.15 $ 1,385,444,263.10
VRC Volt Resources 0 -9 -58 -17 0.01 $ 21,173,735.55
CEL Challenger Exploration 3 -9 -13 164 0.195 $ 107,723,299.91
AMG Ausmex -7 -9 -7 -56 0.039 $ 21,355,164.09
EMU EMU NL -24 -10 -32 -9 0.042 $ 14,847,228.31
DTR Dateline Resources 0 -10 210 0 0.002 $ 16,420,156.15
EVN Evolution Mining -8 -10 -17 30 5.07 $ 8,543,066,200.00
FFX Firefinch 9 -10 62 118 0.15 $ 113,376,551.40
NSM North Stawell 11 -10 0 0 0.485 $ 19,000,000.00
DAU Dampier Gold -2 -10 -27 177 0.061 $ 18,237,474.56
HRN Horizon Gold 6 -10 83 76 0.43 $ 37,753,461.21
MEU Marmota -2 -10 -14 79 0.043 $ 41,646,948.67
TAR Taruga Minerals -4 -11 285 242 0.05 $ 21,031,269.28
TBR Tribune Resources -2 -11 -11 3 6.31 $ 335,271,012.03
GED Golden Deeps -12 -11 -31 -38 0.015 $ 8,095,360.49
AL8 Alderan Resources -2 -11 63 172 0.098 $ 25,657,736.82
SLZ Sultan Resources 4 -11 60 269 0.24 $ 16,340,581.42
MAU Magnetic Resources -3 -11 -8 149 1.12 $ 248,482,083.55
RED Red 5 -2 -11 -10 -9 0.26 $ 522,290,714.61
NCM Newcrest Mining -4 -11 -15 -12 27.11 $ 21,965,370,764.60
G88 Golden Mile Resources 0 -12 150 32 0.054 $ 6,642,989.71
MRZ Mont Royal Resources -6 -12 67 28 0.3 $ 10,732,939.75
NML Navarre Minerals -7 -12 36 131 0.215 $ 108,488,430.20
STK Strickland Metals 0 -12 633 500 0.12 $ 42,010,152.10
TTM Titan Minerals -4 -12 28 -39 0.11 $ 117,093,576.39
NAG Nagambie Resources 9 -12 -22 -2 0.051 $ 24,996,617.30
LNY Laneway Resources 0 -13 75 0 0.007 $ 22,650,395.60
DGO DGO Gold -7 -13 133 231 2.95 $ 203,135,569.20
RMS Ramelius Resources -6 -13 -4 68 1.72 $ 1,399,599,870.18
GNM Great Northern -6 -13 12 70 0.017 $ 16,342,552.87
TSO Tesoro Resources -6 -13 285 638 0.3 $ 122,037,890.19
AMI Aurelia Metals -3 -13 28 -3 0.415 $ 452,760,992.76
MTH Mithril Resources 0 -13 53 200 0.027 $ 52,176,878.65
CTO Citigold Corp -7 -13 225 160 0.013 $ 34,783,751.72
SRN Surefire Resources 0 -14 933 1140 0.031 $ 19,472,762.84
DDD 3D Resources 20 -14 100 200 0.006 $ 21,692,232.55
GUL Gullewa Limited 0 -14 -51 275 0.105 $ 16,610,275.50
MAT Matsa Resources -4 -14 0 -11 0.12 $ 32,537,605.08
ZNC Zenith Minerals -4 -14 40 122 0.12 $ 33,851,403.45
ALY Alchemy Resources -5 -14 32 53 0.018 $ 12,772,625.61
TMX Terrain Minerals -8 -14 140 300 0.012 $ 8,677,932.11
DRE Dreadnought Resources -8 -15 283 229 0.023 $ 49,760,643.70
MKR Manuka Resources -4 -15 0 0 0.43 $ 30,796,512.35
OKR Okapi Resources -11 -15 21 6 0.17 $ 6,127,287.22
MEG Megado -13 -15 0 0 0.17 $ 6,868,286.08
TMZ Thomson Resources -19 -15 433 210 0.079 $ 22,066,375.60
WMX Wiluna Mining -14 -15 -7 24 1.49 $ 149,701,737.85
RRL Regis Resources -1 -15 -29 -17 3.85 $ 1,959,016,730.77
AAR Anglo Australian -10 -15 -3 51 0.14 $ 80,753,173.76
CXU Cauldron Energy -25 -15 18 83 0.033 $ 15,679,982.92
CAI Calidus Resources -5 -16 35 130 0.53 $ 138,628,511.13
SVL Silver Mines -5 -16 36 160 0.2 $ 205,308,736.40
VMC Venus Metals -13 -16 17 8 0.21 $ 33,237,310.26
XTC Xantippe Resources 25 -17 25 25 0.0025 $ 10,186,411.01
BRB Breaker Resources -5 -17 -38 -44 0.175 $ 57,022,162.58
PAK Pacific American Holdings 0 -17 140 -16 0.024 $ 7,550,037.60
DCN Dacian Gold -4 -17 23 -60 0.345 $ 189,212,908.36
WCN White Cliff Minerals 3 -18 371 500 0.033 $ 16,022,801.95
SIH Sihayo Gold 5 -18 -15 28 0.021 $ 67,678,315.38
NST Northern Star -9 -18 -15 40 12.9 $ 9,551,002,409.97
AGG AngloGold Ashanti -7 -18 -27 6 5.8 $ 517,405,037.00
GMR Golden Rim Resources -13 -18 32 -19 0.0105 $ 17,913,418.71
NES Nelson Resources -7 -18 50 47 0.062 $ 7,232,534.95
MAR Malachite Resources -9 -18 26 -47 0.053 $ 6,928,729.40
BBX BBX Minerals -7 -19 214 83 0.33 $ 144,758,975.62
M2R Miramar -12 -19 0 0 0.3 $ 11,823,705.60
MDI Middle Island Resources -7 -19 0 117 0.013 $ 38,813,333.68
TSC Twenty Seven Co. -8 -19 8 20 0.006 $ 10,847,406.55
GML Gateway Mining 61 -19 88 61 0.029 $ 55,280,990.04
AOP Apollo Consolidated -3 -19 11 36 0.3 $ 74,001,287.25
BDC Bardoc Gold -8 -19 240 -18 0.0715 $ 126,356,238.45
RND Rand Mining -3 -20 -4 -22 1.94 $ 125,710,312.75
WGX Westgold Resources -5 -20 -6 16 2.25 $ 945,197,252.10
THR Thor Mining 5 -20 233 282 0.021 $ 7,885,603.92
MZZ Matador Mining -10 -20 31 23 0.32 $ 54,470,002.88
GTR GTI Resources -10 -20 80 100 0.018 $ 11,556,323.96
LEX Lefroy Exploration -15 -20 3 3 0.195 $ 23,860,266.60
DEG De Grey Mining -17 -20 0 1890 0.995 $ 1,278,415,061.00
SNG Siren Gold 4 -20 -23 0 0.57 $ 32,502,076.75
MGV Musgrave Minerals 4 -20 193 477 0.41 $ 201,786,721.13
CBY Canterbury Resources -14 -21 36 -53 0.095 $ 8,361,424.53
WWI West Wits Mining -4 -21 618 1460 0.078 $ 92,199,751.12
AQI Alicanto Minerals -10 -21 63 136 0.13 $ 37,903,087.89
KWR Kingwest Resources -6 -21 0 -23 0.165 $ 26,127,955.86
CDT Castle Minerals -8 -21 22 22 0.011 $ 7,691,258.59
OKU Oklo Resources -2 -22 -28 65 0.215 $ 100,712,629.20
FAU First Au -5 -22 91 62 0.021 $ 11,299,777.36
YRL Yandal Resources -1 -23 75 82 0.465 $ 35,208,706.95
NWM Norwest Minerals -11 -23 -48 -48 0.093 $ 8,060,261.66
ARV Artemis Resources 9 -23 300 329 0.12 $ 130,727,896.46
CWX Carawine Resources -14 -23 34 28 0.25 $ 28,311,374.52
MVL Marvel Gold -7 -23 135 -44 0.057 $ 28,992,711.31
ALK Alkane Resources -1 -23 10 63 0.995 $ 592,411,856.00
LCL Los Cerros -4 -24 171 29 0.125 $ 58,566,190.25
AUT Auteco Minerals -9 -24 74 1011 0.1 $ 150,449,177.86
GBR Great Bould Resources -7 -24 -22 0 0.053 $ 9,779,108.04
AGS Alliance Resources 6 -24 6 76 0.19 $ 33,877,015.20
VAN Vango Mining 3 -24 -22 -50 0.072 $ 71,538,678.29
GWR GWR Group 6 -25 62 97 0.175 $ 45,049,876.08
GSM Golden State Mining 2 -25 31 292 0.235 $ 13,026,326.00
SPQ Superior Resources -12 -25 150 167 0.015 $ 17,863,561.23
RMX Red Mount Mining -14 -25 140 71 0.012 $ 13,575,869.87
HMX Hammer Metals -3 -26 48 42 0.037 $ 27,539,809.07
KTA Krakatoa Resources -21 -27 66 54 0.063 $ 17,384,850.00
RGL Riversgold -7 -27 32 310 0.041 $ 16,225,653.28
TIE Tietto Minerals -1 -27 9 35 0.365 $ 167,169,868.72
ENR Encounter Resources 0 -28 21 26 0.17 $ 56,517,255.90
HWK Hawkstone Mining -9 -29 0 67 0.01 $ 15,115,734.42
PUA Peak Minerals 0 -30 81 52 0.023 $ 12,597,109.11
AVW Avira Resources 0 -31 350 350 0.009 $ 11,687,840.00
NAE New Age Exploration -15 -31 120 267 0.011 $ 13,329,364.92
GMN Gold Mountain 5 -32 20 -42 0.043 $ 29,871,432.07
EMR Emerald Resources 5 -32 214 51 0.62 $ 306,661,338.17
TRY Troy Resources -11 -32 -3 -21 0.087 $ 64,421,611.58
LCY Legacy Iron Ore -14 -33 200 173 0.006 $ 37,483,431.10
PKO Peako Limited -4 -34 45 28 0.024 $ 4,609,300.25
AYM Australia United 0 -36 350 200 0.009 $ 16,583,197.37
RDN Raiden Resources -26 -37 420 271 0.026 $ 14,570,754.98
KAI Kairos Minerals -6 -39 117 272 0.0365 $ 60,313,484.74
CST Castile Resources -7 -41 76 0 0.26 $ 57,915,935.09
REZ Resources & Energy Group -21 -41 225 37 0.052 $ 22,447,401.03
ADV Ardiden 5 -53 450 633 0.022 $ 44,584,299.56

Small cap highlights

GATEWAY MINING (ASX:GML) +61%

Gateway retained some glow after last week making a “breakthrough”  high-grade discovery at its Gidgee project in WA, with one hole hitting a remarkable 10 metres at 9.2 grams per tonne gold.

The hole was part of a reverse circulation drilling campaign designed to test for gold between Gateway’s cornerstone +240,000oz Whistler and Montague-Boulder deposits at Gidgee.

The explorer subsequently scored a $150,000 government grant to drill four 600m deep holes to guide “long term exploration targeting of the gold-rich system”.

 

ANAX METALS (ASX:ANX) +60%

Pilbara explorer Anax – formerly Aurora Minerals –intersected significant near surface copper, zinc and lead sulphides at the Whim Creek farm-in.

Anax Metals added that it intends to start exploration work for gold at its Whim Creek project in early 2021.

The stock is now up ~150 per cent since relisting earlier this month.

 

VIKING MINES (ASX:VKA) +30%

Explorer Viking Mines is looking to buy the historic, high grade First Hit gold project in WA.

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.

 

KINGSTON RESOURCES (ASX:KSN) +20%

The 3.6moz Misima gold project in PNG would create $1.5 billion in free cashflow over 17 years, making it “one of the best undeveloped projects in the Asia-Pacific region”, Kingston managing director Andrew Corbett says.

The low cost operation would produce 130,000oz of gold a year at an all in sustaining cost (AISC) of ~$1,159/oz, according to a new project study.

The current gold price is ~ $2469/oz. Nice profit margin.

 

SABRE RESOURCES (ASX:SBR) +20%

Early stage drilling was completed at Sabre’s aspirationally named ‘Bonanza’ gold project in WA on November 19, with assays pending.

The 50 hole program was testing targets within 800m of a certified company maker called ‘Penny West’, now owned by miner Ramelius Resources (ASX:RMS).

The explorer then received binding commitments for $4.8m in a cap raise — well above the $3m originally sought.