Gold has been on a terrific run lately, climbing from a 52-week low of $1,673 U.S. per ounce in March to back over $1,900 this month. The 52-week low needs to be kept in context as it only came after gold set an all-time high of $2,089 in August 2020. Part of the recent uptrend is owing to goldilocks numbers from the U.S. jobs market, including wage inflation continuing to increase, coming in at +0.5% in May after +0.7% in April.
On this trajectory, gold could be back over $2,000 an ounce again in a matter of months, or even weeks. Gold explorers have been benefiting from the favorable outlook. Graycliff Exploration Limited (CSE:GRAY) (OTCQB:GRYCF), a junior explorer making substantial progress at its Shakespeare Gold Project outside Sudbury, Ontario, has been a standout, rising 84% from 51 cents on May 12 to 94 cents on May 19. The stock has … Read the rest