Despite entering 2014 on some positive momentum, street expectations for gold are bearish in general, and the metal could spend the coming year range-bound, with the major support level not budging much from around $1,200.
Wednesday’s announcement from the Fed that treasury spending would be cut by another $10 billion was characterized by many as “aggressive”, especially given recent jobs data and forecasts for a less voracious Chinese economy over the year. While stocks dropped across the board following Ben Bernanke’s final post-FOMC press conference as Chairman however, we did not see the kind of panic sends investors running for the shelter of precious metals, a possible indication that Wall Street still sees there being some room for equities to grow.
But this doesn’t mean the smart money isn’t still keeping its eye on certain gold stocks. The following five gold stocks currently have the largest increases in institutional transactions, a figure that expresses the three-month change in fund/financial institution-ownership of a stock.
Kingold Jewelry Inc. (KGJI)
3-Month Increase in Institutional Transactions:+294.07 percent
2014 Performance:+11.31 percent
Almaden Minerals Ltd. (AAU)
3-Month Increase in Institutional Transactions:+174.02 percent
2014 Performance:+17.09 percent
Alamos Gold Inc. (AGI)
3-Month Increase in Institutional Transactions:+29.59
2014 Performance:-24.24 percent
Brigus Gold Corp. (BRD)
3-Month Increase in Institutional Transactions:+26.10 percent
2014 Performance:+25.64 percent
Vista Gold Corp. (VGZ)
3-Month Increase in Institutional Transactions:+22.09 percent
2014 Performance:+64.47 percent
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer