Gold prices have surged in 2019, breaking through the A$2,000 barrier and continuing to climb.

Gold stocks notably rallied back in June on the day gold went above $2,000. But in the longer run, have stocks been following the trend?

Overall they have. ASX small cap gold stocks have gained 27 per cent in 2019. But of course not all gold stocks have advanced and only a handful have surged at rates most other peers can only dream of.

The most notable mover had been Spectrum Metals (ASX:SPX), which has shot up nearly 2,000 per cent on the back of spectacular drilling results at its Penny West project.

Next is Andromeda Metals (ASX:ADN), which has repositioned itself with a primary focus on high purity alumina, but also has some gold projects. A further four stocks have tripled and another 13 have gained between 100 and 200 per cent.

Echo Resources (ASX:EAR) just crossed the barrier today after Northern Star (ASX:NST) made a takeover offer.

The losers

But not all stocks have enjoyed the gains. While companies can decline because of the industry they are in, some gold stocks have declined because they did not appear to shareholders to be fully pouncing on this opportunity.

The biggest decliner is Argonaut Resources (ASX:ARE), which has fallen 72 per cent. The company has suffered operational difficulties at its Torrens gold and copper project.

Dacian Gold (ASX:DCN) is another laggard. While it has rallied from year-record lows, it was hit by a production downgrade earlier in 2019.

Code Short Name Price YTD % Return Market Cap
SPX SPECTRUM METALS 0.1 1.90k 145.48M
ADN ANDROMEDA METALS 0.06 866.67 78.63M
RED RED 5 LTD 0.35 293.26 435.52M
BC8 BLACK CAT SYNDIC 0.54 256.67 38.55M
TIE TIETTO MINERALS 0.22 230.77 56.77M
PEC PERPETUAL RESOUR 0.04 207.69 12.34M
E2M E2 METALS LTD 0.22 181.25 20.67M
KGM KALNORTH GOLD MI 0.01 150 8.94M
BCN BEACON MINERALS 0.04 135.71 128.63M
KCN KINGSGATE CONSOL 0.38 127.27 84.83M
LNY LANEWAY RESOURCE 0.01 125 33.48M
EAR ECHO RESOURCES L 0.32 116.67 172.77M
ALK ALKANE RESOURCES 0.41 107.69 204.97M
AQI ALICANTO MINERAL 0.06 105.17 10.18M
STN SATURN METALS LT 0.4 105.13 25.46M
MML MEDUSA MINING 0.81 100 166.24M
SMD SYNDICATED METAL 0.01 100 6.65M
TGM THETA GOLD MINES 0.16 100 64.13M
MDI MIDDLE ISLAND RE 0.01 100 8.37M
TBR TRIBUNE RES LTD 8 99 444.02M
FML FOCUS MINERALS L 0.34 94.29 62.13M
ERM EMMERSON RESOURC 0.14 90.14 57.36M
LLO LION ONE MET-CDI 0.75 89.87 77.33M
WAF WEST AFRICAN RES 0.46 84 417.83M
PRX PRODIGY GOLD NL 0.13 83.82 60.08M
AWV ANOVA METALS LTD 0.02 80 11.50M
HRN HORIZON GOLD LTD 0.39 77.27 29.85M
OVL ORO VERDE LTD 0.01 75 12.29M
GML GATEWAY MINING 0.02 72.73 20.77M
BDC BARDOC GOLD LTD 0.09 70.82 112.82M
SMC STRATEGIC MIN 0.49 69.91 42.09M
ODM ODIN METALS LTD 0.15 66.67 23.06M
AOP APOLLO CONSOLIDA 0.27 60.08 59.80M
HMX HAMMER METALS LT 0.03 57.14 15.80M
RND RAND MINING LTD 3.05 51.74 183.45M
EGA EGAN STREET RESO 0.31 51.22 41.22M
TAM TANAMI GOLD NL 0.05 50 63.46M
KWR KINGWEST RESOURC 0.27 50 16.58M
DRE DREADNOUGHT RESO 0 50 5.87M
BGL BELLEVUE GOLD LT 0.61 47.56 344.19M
PM8 PENSANA METALS L 0.22 46.67 31.68M
CYL CATALYST METALS 2.49 42.29 197.23M
HAW HAWTHORN RESOURC 0.05 38.46 17.64M
CHN CHALICE GOLD MIN 0.19 37.04 52.07M
YRL YANDAL RESOURCES 0.28 30.95 18.38M
EMR EMERALD RESOURCE 0.04 30 118.89M
NUS NUSANTARA RESOUR 0.24 29.73 40.27M
PGI PANTERRA GOLD LT 0.03 21.74 5.91M
BSX BLACKSTONE MINER 0.14 21.74 22.53M
ARS ALT RESOURCES LT 0.02 20 11.86M
VAN VANGO MINING LTD 0.19 18.75 124.31M
BRB BREAKER RESOURCE 0.38 18.75 76.38M
CGN CRATER GOLD MINI 0.02 18.75 23.32M
AGS ALLIANCE RESOURC 0.14 18.26 21.43M
CAI CALIDUS RESOURCE 0.03 17.86 70.82M
HRZ HORIZON MINERALS 0.15 15.38 64.20M
SAU SOUTHERN GOLD LT 0.18 13.74 15.02M
GMD GENESIS MINERALS 0.04 11.24 40.25M
CDT CASTLE MINERALS 0.01 11.11 2.24M
NTM NTM GOLD LTD 0.04 10 23.03M
DGO DGO GOLD LTD 0.7 8.8 23.42M
BBX BBX MINERALS LTD 0.19 8.57 80.14M
PDI PREDICTIVE DISCO 0.01 7.14 4.13M
CDV CARDINAL RESOURC 0.46 6.98 183.84M
TRY TROY RES LTD 0.12 4.55 68.09M
ALY ALCHEMY RESOURCE 0.01 4.17 5.84M
MAT MATSA RESOURCES 0.17 3.13 28.31M
SFM SANTA FE MINERAL 0.09 2.22 6.70M
CY5 CYGNUS GOLD LTD 0.07 1.54 4.01M
AUT AUTECO MINERALS 0 0 5.01M
GUL GULLEWA LTD 0.03 0 4.03M
GWR GWR GROUP LTD 0.1 0 26.62M
TMX TERRAIN MINERALS 0 0 2.57M
AAJ ARUMA RESOURCES 0.01 0 3.94M
AVW AVIRA RESOURCES 0 0 3.00M
MSR MANAS RESOURCES 0 0 10.57M
DTR DATELINE RESOURC 0 0 24.41M
AYR ALLOY RESOURCES 0 0 5.08M
OKR OKAPI RESOURCES 0.2 -2.44 7.21M
NWF NEWFIELD RESOURC 0.19 -2.56 110.45M
ARM AURORA MINERALS 0.01 -3.75 3.28M
ANL AMANI GOLD LTD 0 -4.55 15.64M
KGD KULA GOLD LTD 0.02 -5 1.12M
CYM CYPRIUM METALS L 0.17 -5.41 7.89M
GMR GOLDEN RIM RESOU 0.01 -6.25 14.04M
GCR GOLDEN CROSS RES 0.02 -9.52 1.93M
ARL ARDEA RESOURCES 0.47 -9.62 52.01M
NXM NEXUS MINERALS L 0.05 -9.62 5.56M
WWI WEST WITS MINING 0.01 -11.11 7.38M
KTA KRAKATOA RESOURC 0.02 -12 2.97M
NAG NAGAMBIE RESOURC 0.06 -12.86 26.68M
CTO CITIGOLD CORP LT 0.01 -14.29 12.96M
BNR BULLETIN RESOURC 0.02 -14.81 4.12M
OAU ORA GOLD LTD 0.01 -15.38 7.11M
SIH SIHAYO GOLD LTD 0.02 -15.79 37.09M
KRM KINGSROSE MINING 0.05 -15.79 33.58M
DTM DART MINING NL 0 -16.67 5.09M
DHR DARK HORSE RESOU 0 -20 8.10M
CAY CANYON RESOURCES 0.16 -20.51 68.71M
AUC AUSGOLD LTD 0.02 -20.83 14.26M
GME GME RESOURCES LT 0.06 -20.87 28.35M
BSR BASSARI RESOURCE 0.01 -22.22 32.02M
VKA VIKING MINES LTD 0.01 -22.22 4.39M
RTG RTG MINING-CDI 0.09 -23.33 44.06M
GBZ GBM RESOURCES 0 -25 3.27M
GED GOLDEN DEEPS LTD 0.03 -27.03 5.76M
MLL MALI LITHIUM LTD 0.12 -28.12 30.42M
BDG BLACK DRAGON GOL 0.08 -28.57 8.31M
DGR DGR GLOBAL LTD 0.09 -28.8 54.57M
MKG MAKO GOLD LTD 0.08 -28.94 7.17M
AAR ANGLO AUST RES 0.06 -30.34 22.18M
DAU DAMPIER GOLD LTD 0.02 -31.43 4.57M
AME ALTO METALS LTD 0.03 -32.44 9.19M
NTL NEW TALISMAN GOL 0.01 -33.33 19.33M
MLS METALS AUSTRALIA 0 -33.33 5.85M
MOY MILLENNIUM MINER 0.12 -35.4 102.49M
PUA PURE ALUMINA LTD 0.03 -35.71 5.99M
GMN GOLD MOUNTAIN LT 0.05 -35.9 27.49M
ONX ORMINEX LTD 0.13 -36.59 70.08M
TAR TARUGA MINERALS 0.03 -37.5 3.53M
TNR TORIAN RESOURCES 0.01 -38.89 2.98M
AZM AZUMAH RES LTD 0.01 -42.31 14.68M
DEG DE GREY MINING 0.06 -44.57 53.35M
OKU OKLO RESOURCES L 0.14 -46 47.91M
SMI SANTANA MINERALS 0 -50 2.03M
SHK STONE RESOURCES 0 -50 811.65k
DCN DACIAN GOLD LTD 1.18 -52.7 280.25M
MOH MOHO RESOURCES N 0.06 -54.29 2.72M
BLK BLACKHAM RESOURC 0.01 -64.77 57.78M
GBR GREAT BOULDER RE 0.05 -65.52 4.08M
CGM COUGAR METALS NL 0 -66.67 1.18M
NES NELSON RESOURCES 0.04 -66.67 1.82M
RGL RIVERSGOLD LTD 0.02 -72.22 2.02M
ARE ARGONAUT RESOURC 0.01 -72.73 9.33M