2 Mining Stocks to Consider as Metals Prices Fall
Metal prices and mining stocks have plummeted in recent weeks, with gold declining steadily from a firm footing above $1,800 an ounce to below $1,700 temporarily. Copper has taken a hit as well. Of course, not all miners are created equally, so in this piece, we used TipRanks'' Comparison Tool to evaluate two mining stocks. Analysis reveals reasons to be bullish on both Freeport-McMoRan (FCX) and Barrick Gold (GOLD) (TSE: ABX) right now, although Freeport is looking better than Barrick in the short term. While inflation has historically been good for gold, traditionally a safe-haven investment, it hasn''t done anything to help the precious metal this year.
2 Mining Stocks to Consider as Metals Prices Fall
Metal prices and mining stocks have plummeted in recent weeks, with gold declining steadily from a firm footing above $1,800 an ounce to below $1,700 temporarily. Copper has taken a hit as well. Of course, not all miners are created equally, so in this piece, we used TipRanks'' Comparison Tool to evaluate two mining stocks. Analysis reveals reasons to be bullish on both Freeport-McMoRan (FCX) and Barrick Gold (GOLD) (TSE: ABX) right now, although Freeport is looking better than Barrick in the short term. While inflation has historically been good for gold, traditionally a safe-haven investment, it hasn''t done anything to help the precious metal this year.