Gold producers have been among the biggest winners during the pandemic, as investors bet that ultralow interest rates, massive government debt loads and an uncertain global economic recovery will keep the price of gold buoyant.
Missed the rally? Some observers expect that precious metals producers will continue to perform well in the year ahead.
Analysts at CIBC World Markets raised their target prices – or where they expect share prices will be in 12 months – on 36 gold and silver stocks this week, based on their bullish outlook for gold and silver prices over the next few years.
“Although it has been a strong year already, the bull run appears far from over,” CIBC analysts said in a note.