Gold exploration and early stage companies in other sectors are fuelling a massive rally at the TSX-Venture exchange, which has come roaring back after hitting rock bottom earlier this year when the coronavirus pandemic froze most economic activity.
The S&P/TSX Venture Composite Indexhas more than doubled to 739.5 on Thursday, after dropping to a 10-year low of 358.04 in early March.
Much of the surge has been driven by investors’ newfound interest in all things gold, including junior gold companies, which are suddenly back in vogue as the price of bullion sits near an all-time high, trading near US$1,951 per ounce as of Thursday afternoon.
The junior gold companies, many of which are still in the exploration stage, as well as mid-tier miners have by some metrics outperformed their senior counterparts.
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