2 Stocks Surging as Gold Prices Hit Record Highs

GOLD and RGLD are both eyeing third-straight wins

Digital Content Manager
Apr 1, 2024 at 12:47 PM
facebook X logo linkedin


Gold stocks are on the rise, with the yellow metal surging to a record high earlier today on the heels of February's personal consumption expenditures (PCE) price index, which was in line expectations and fueled hopes of interest rate cuts. In response, Barrick Gold Corp (NYSE:GOLD) and Royal Gold Inc (NASDAQ:RGLD) are on the rise today.

GOLD was last seen up 1.3% to trade at $16.85 -- its highest level since January. The security is on track for a third-straight gain, and has cleared a confluence of moving averages sitting above. The shares have added 18.4% in the last six months.

Call volume is today running at double the intraday average volume, with 43,000 bullish bets exchanged so far, compared to 8,175 puts. The most popular contract is the weekly 6/21 17-strike call.

RGLD is also higher, last seen up 0.8% to trade at $122.82, also heading for its third consecutive win and trading at its highest level since January. The stock toppled its 80-day moving average after spending most of 2024 underneath, and is now swinging above its year-to-date breakeven mark.

At the International Securities Exchange (ISE), Cboe Volatility Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), RGLD's 50-day call/put volume ratio of 4.99 sits higher than 97% of readings from the past year, showing calls being picked up at a much faster-than-usual rate.
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI