LONDON – Gold remained range-bound last week, trading between $1,570 and $1,585 per ounce, and ending the week almost unchanged, up just 0.1% at $1,576.
Of course, the only practical way for most private investors to invest in gold is through exchange-traded funds. The largest gold ETF, the $64bn SPDR Gold Trust (ETF) (NYSEMKT:GLD) , rose 0.18% to $152.71 last week, while London-listed Gold Bullion Securities rose 0.14% to $152.05 over the same period. So far this year, shareholders of Gold Bullion Securities have seen the value of their holdings fall by 5.2%, while the value of SPDR Gold Trust shares has fallen by 5.8%.
Gold’s big movers
Many investors prefer to invest in gold-mining stocks, rather than gold itself, as gold miners are able to use their operational gearing to outperform the price of gold. Let’s take a look at some gold stocks that made decent gains last week, despite the price of gold remaining flat.
Seabridge Gold, Inc. (USA) (NYSE:SA) gained 15.9% to $14.05 last week after it confirmed that it had filed the application for an environmental assessment certificate for its KSM gold project in British Columbia. Seabridge Gold, Inc. (USA) (NYSE:SA) shares then made further gains after the company announced that it had begun core drilling the Walsh Lake gold target at its Courageous Lake project in Canada. The results of previous drilling at Walsh Lake have exceeded expectations.
The article 3 Gold Shares Rising Strongly originally appeared on Fool.com and is written by Roland Head.
Roland Head does not own shares in any of the companies mentioned in this article. Motley Fool newsletter services have recommended buying shares of Seabridge Gold.
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