Last Week’s Top Gold Movers: SolGold plc, AngloGold Ashanti Ltd And Pan African Resources plc

Gold Bullion Securities Limited (LON:GBS) and SPDR Gold Trust (ETF) (LON:GLD) edged higher last week.

| More on:

The content of this article was relevant at the time of publishing. Circumstances change continuously and caution should therefore be exercised when relying upon any content contained within this article.

When investing, your capital is at risk. The value of your investments can go down as well as up and you may get back less than you put in.

Read More

The content of this article is provided for information purposes only and is not intended to be, nor does it constitute, any form of personal advice. Investments in a currency other than sterling are exposed to currency exchange risk. Currency exchange rates are constantly changing, which may affect the value of the investment in sterling terms. You could lose money in sterling even if the stock price rises in the currency of origin. Stocks listed on overseas exchanges may be subject to additional dealing and exchange rate charges, and may have other tax implications, and may not provide the same, or any, regulatory protection as in the UK.

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More.

goldbarancoins

The price of gold remained largely unchanged last week, with gold for immediate delivery ending the week up by just 0.3% at $1,324 per ounce.

Of course, the only practical way for most private investors to invest in gold is through exchange-traded funds. The largest gold ETF, the $32bn SPDR Gold Trust (NYSE: GLD.US), ended last week up by just 0.4% at $127.58, while London-listed Gold Bullion Securities (LSE: GBS) ended the week down 0.3% at $126.92. So far this year, shareholders of Gold Bullion Securities have seen the value of their holdings rise by 9.2% while the value of SPDR Gold Trust shares has risen by 8.1%.

After several strong performances during the previous week, gold mining shares paused for breath last week, with very few big movers.

However, small cap explorer SolGold (LSE: SOLG) bucked the trend, gaining 35% to 11p last week, after reporting that the ‘strongly visible’ copper-gold mineralisation in hole 5 at the company’s Alpala prospect in Ecuador has been found to continue from near the top of the hole to its latest depth of 1,303.5m. According to SolGold CEO Alan Martin, this indicates “a very substantial copper-gold porphyry system”.

Among the mid- and large-cap miners, AngloGold Ashanti (LSE: AGD) bucked the trend, slipping 10% lower after reporting its full-year results. Although the firm reported production of 4.1 million ounces, its first annual production increase since 2005, and said that all-in sustaining costs had fallen from $1,251 per ounce at the end of 2012 to $1,015 per ounce at the end of 2013, investors appeared disappointed — perhaps because capex is likely to exceed operating cash flow once more in 2014.

Pan African Resources (LSE: PAF) also fell after reporting its interim results, but gained 5% in early trade this morning and is currently unchanged on the last week. Pan African reported that gold sold during the six months to 31 December was 100,172oz, a 123% increase on the same period the previous year. The firm also said that its all-in costs had fallen by 17.5% from $1,266/oz. the previous year to $1,044 per ounce, while earnings per share had risen by 11% from $0.85 to $0.95.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

> Roland does not own shares in any of the companies mentioned in this article.

More on Investing Articles

Young black man looking at phone while on the London Overground
Investing Articles

1 delicious penny stock I reckon can deliver juicy returns and growth

This food delivery penny stock has experienced a surge in performance and uptake recently. Our writer is excited by its…

Read more »

Investing Articles

If I’d bought Rolls-Royce shares the day Tufan Erginbilgiç joined here’s what I’d have now

Harvey Jones is startled by just how fast the Rolls-Royce share price has risen since its transformative CEO took over.…

Read more »

Mature Caucasian woman sat at a table with coffee and laptop while making notes on paper
Investing Articles

How much do I need to invest in Lloyds shares to earn income of £1,000 a year?

Harvey Jones is getting income and growth from his Lloyds shares but wished he'd bought more of them. So he's…

Read more »

Illustration of flames over a black background
Investing Articles

Down 75%! Will the Saga share price ever be loved again?

The last few years have been incredibly difficult for those watching the Saga share price. But what does the future…

Read more »

Investing Articles

What kind of return could I expect by investing £100 monthly in a Stocks and Shares ISA?

Using a Stocks and Shares ISA to avoid capital gains tax could grow a £100 monthly investment into a second…

Read more »

Young woman working at modern office. Technical price graph and indicator, red and green candlestick chart and stock trading computer screen background.
Investing Articles

Can strong operational momentum keep the Informa share price rising?

FTSE 100 company Informa has been performing well, but this may be just the beginning of a multi-year trend for…

Read more »

Market Movers

What’s going on with the Britvic share price?

Jon Smith flags up why Britvic's share price is surging on Friday, but believes that the company is in a…

Read more »

Cheerful young businesspeople with laptop working in office
Dividend Shares

2 super-cheap passive income shares I’m eyeing up right now

Jon Smith discusses two of his favourite passive income shares in the banking and property sectors, both featuring yields above…

Read more »