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.

See Also: Best Penny Stocks

These could include IAMGOLD Corporation (NYSE:IAG), GoldMining Inc. (NYSE:GLDG), and McEwen Mining Inc. (NYSE: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.