Gold stocks have soared in the past week

The rising prospect of Donald Trump winning the US election next week has seen the spot gold price jump above US$1,300 an ounce and ASX-listed gold miners soar.

Spot gold was trading around US$1,280 an ounce a week ago, but is currently trading at just above US$1,300 an ounce. With the Australian dollar exchange rate buying 76.84 US cents, the local equivalent is A$1,692 an ounce.

Here’s the performance of several gold stocks over the past week.

Company Share Price Market Cap ($m) Price move
Emmerson Resources Limited (ASX: ERM) $0.16 $12.8 28.0%
Anova Metals Ltd (ASX: AWV) $0.17 $78.0 16.7%
Saracen Mineral Holdings Limited (ASX: SAR) $1.30 $1,052.1 14.0%
EVOLUTION FPO (ASX: EVN) $2.46 $4,121.9 12.9%
Northern Star Resources Ltd (ASX: NST) $4.54 $2,726.5 12.2%
Newcrest Mining Limited (ASX: NCM) $24.00 $18,401.7 12.1%
Metals X Limited (ASX: MLX) $1.51 $121.3 11.8%
Millennium Minerals Ltd. (ASX: MOY) $0.31 $246.0 10.8%
Gold Road Resources Ltd (ASX: GOR) $0.63 $50.6 10.5%
Red 5 Limited (ASX: RED) $0.12 $87.6 9.7%
Perseus Mining Limited (ASX: PRU) $0.64 $51.4 9.5%
St Barbara Ltd (ASX: SBM) $2.81 $1,395.0 7.3%
Regis Resources Limited (ASX: RRL) $3.51 $281.9 6.6%
Resolute Mining Limited (ASX: RSG) $1.65 $132.5 6.4%
Silver Lake Resources Limited (ASX: SLR) $0.64 $320.9 4.2%

Source: S&P Global Markets Intelligence

What investors need to be aware of are the consequences for gold if Hillary Clinton does win. Spot gold prices could plummet, taking gold miners’ share prices with it.

A table of weekly share price movements for gold miners next week could look like the above table – with a minus sign next to the price move percentage.

Buyer beware.

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Motley Fool writer/analyst Mike King owns shares in Red 5 Limited. You can follow Mike on Twitter @TMFKinga

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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