3 Penny Stocks For The Gold Rally

As inflation increases, the price of gold is soaring. Since March the price per ounce has moved from $1,685 to $1,910.

If gold keeps moving higher, there’s a good chance certain gold stocks begin to break out and follow along.

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These could include IAMGOLD Corporation IAG, GoldMining Inc. GLDG, and McEwen Mining Inc. MUX.

IAG is testing resistance around the $3.60 level. This level was also resistance in February.

GLDG may have broken the resistance at the $1.75 level. This could set the stage for another move higher.

MUX has reached the $1.50 level for the third time in the past year. If gold keeps moving higher, there’s a good chance MUX breaks this resistance and moves higher as well.

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Posted In: Long IdeasPenny StocksTechnicalsCommoditiesSmall CapMarketsTrading IdeasGold
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