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A Look at Top Performers as Gold Equities Multiply Gold’s Gains

Annie Gilroy
A Look at Top Performers as Gold Equities Multiply Gold’s Gains

As gold prices remained buoyant, gold equities also rose. The VanEck Vectors Gold Miners ETF (GDX) rose 2.2% against gold’s 1.0% gain. Among the major gold equities, Yamana Gold (AUY) rose the most by 6.4%, followed by IAMGOLD (IAG), which rose 4.6%. These two stocks are more leveraged to gold prices as compared to their peers. IAG, for example, rose 148% and 41% in 2016 and 2017, respectively, against gold price gains of 8% and 13% in 2016 and 2017. Year-to-date (or YTD), AUY and IAG have returned -9.4% and -11.3%, respectively.