Experts point to the 24 percent increase in the price of gold stock during 2009 and the continued rise in price of the precious metal when advising investors to purchase gold-related stocks. Gold stocks are sold on the major exchanges in countries such as Australia, Canada, London, South Africa and the United States. They represent shares in mining companies and other organizations that process the precious metal.
One of the best gold stocks trading on the Toronto Stock Exchange is Barrick Gold Corporation. The company is headquartered in Toronto and has interests in 26 operating mines within five continents. Its stock is currently trading for $43.24 per share on the New York Stock Exchange. Also based in Toronto is Kinross Gold Corporation, one of the world’s leading publicly traded gold mining companies.
Another publicly traded Canadian-based company engaged in gold mining is Goldcorp. Operating assets include mines in Canada, Mexico, Guatemala, Argentina, and the U.S. The company’s pipeline of projects and $41.40 NYSE share price make it one of the most valuable foreign gold stocks.
AngloGold Ashanti is based in Johannesburg, South Africa and has 21 operations that span four continents. The company employs over 63,000 people and generated $3.8 billion in sales revenue during 2009. Its stock trades on the JSE in South Africa, as well as the other major stock exchanges throughout the world, including the NYSE, where its share price is currently $40.75. As of the end of 2009, the company’s market capitalization was $14.6 billion.
Do not stop at the decision to buy gold coins, explore other options such as investing in foreign gold stocks. As U.S. currency becomes further devalued, analysts claim that gold represents a better investment than do bonds. Central banks are scooping up gold left and right and holding gold stocks will provide a hedge against inflation.