3 Gold Stocks to Buy Amid Russian Tensions

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Fear and uncertainty is back in the air heading into the long Labor Day holiday thanks to Russian President Vladimir Putin. This is a guy that, according to Time magazine’s coverage naming him their 2007 Person of the Year, has the mental discipline to not blink when giving his blue steel stare down.

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Source: istockphoto.com/3pod

It’s about intimidation, I guess.

But no-blink contests aside, Putin’s demonstrated time and again his steely resolve to protect ethnic Russians living in diaspora. And after repeated feints at de-escalation, he seems to be moving all in on reports of large numbers of Russian soldiers, as well as heavy armor and artillery, engaging with Ukrainian military forces.

As a result, investors are seeking out safe haven assets including precious metals — which have been in suspended animation since June. Silver and gold futures are turning higher. If it continues, it will be great news for these three fast-moving gold stocks.

Gold Stocks – NovaGold Resources (NG)

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NovaGold Resources (NG) is an exploration and development stage company looking for gold, silver and copper resources mainly in its Donlin Gold project in southwestern Alaska as well as the Galore Creek project in British Columbia.

NG stock has been enjoying an upward drift since late 2013, staying above its 200-day moving average despite a serious test of support back in May.

A move to the top of the trading range from here would be worth a 16%-plus gain.

Gold Stocks – Iamgold (IAG)

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Iamgold (IAG), based in Canada, operates mining facilities in its home country as well as Africa and South America. The company is profitable and expected to remain so, with revenue set to grow 10% this year and 8% next year.

Shares of IAG have been consolidating near $4 since late 2013 with a couple tests of support near $3.

After securing its move over the 200-day moving average, IAG stock looks ready for a breakout move higher that could result in a return to levels not seen since October — which would be worth a near 40% gain from here.

Gold Stocks – Allied Nevada Gold (ANV)

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Allied Nevada Gold (ANV) produced 136,930 ounces of gold and 794,097 ounces of silver in 2012 from its mine facility near Winnemucca, Nevada — and this year, it’s on track to produce 230,000 to 250,000 ounces of gold as well as 1.7 million to 1.9 million ounces of silver.

In addition, the company owns six other promising properties and 90 other early-stage exploration properties. Revenue is expected to grow 29% this year to $345 million.

Shares are ramping up in what looks like another retest attempt of the 200-day moving average. A cross of this level, and a return to the March highs, would be worth a 75% gain from here.

Anthony Mirhaydari is founder of the Edge and Edge Pro investment advisory newsletters, as well as Mirhaydari Capital Management, a registered investment advisory firm.


Article printed from InvestorPlace Media, https://investorplace.com/2014/08/3-gold-stocks-buy-amid-russian-tensions/.

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