Let’s just say that the last few years haven’t quite so golden for firms that dig precious metals out of the ground. After exploding higher during the Great Recession and reaching about $2,000 per ounce, gold has been on a one-way ticket downwards. The combination of lowered inflation expectations and an improving global economy basically zapped much of the precious metals appeal for many investors and speculators.
That has affected the gold miners share prices in a big way, with the Market Vectors Gold Miners ETF (GDX) falling about 61% since hitting its peak.
However, times could be changing for gold miners.
According to investment Credit Suisse (CS), many of the issues facing he gold miners could be subsiding. Cost cutting is the name of the game for many of the stocks in the gold sector, while mine closures have helped reduce supplies. Meanwhile, the current macro-economic sentiment bodes well for higher gold prices down the road.
All of which mean that the gold miners could be a big buy in the weeks ahead. Here are five of the best gold mining stocks to buy today:
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