Chart of Day: Newmont Mining (NEM) – 3/29

With gold quickly approaching $2,200, keep an eye on Newmont Mining (NEM).

At the moment, it’s consolidating at $34. But with gold on the run, we believe NEM could break significantly higher from here.

For one, safe-haven demand for gold continues to be supportive amid geopolitical uncertainty with ongoing wars and the upcoming US election.


China’s central bank just added even more gold, supporting the precious metal’s surge to record highs. In fact, in February, China added another 390,000 troy ounces of gold, raising its total holdings to 72.58 million troy ounces.

Plus, according to Goldman Sachs, gold could push even higher. The Fed meeting “reinforced the market’s (and ours) expectations that three cuts are likely this year, lending renewed support to gold to test and surpass March’s earlier record high,” they said, as quoted by Yahoo Finance.  The firm also upgraded their 2024 gold forecast to $2,300 by the end of the year.

deal of the month

best growth stocks


Bundle package – lifetime subscriptions for all products


Recent posts


Connect with Us

Get FREE Daily Stock Tips

Join and receive market insider stock picks, trade alerts and unique investing insights
This field is for validation purposes and should be left unchanged.
By clicking the "Subscribe" button you are accepting our Terms of Use and Privacy Policy.

Join Waitlist

We’re sorry, but due to the popularity of our services, we have reached our max number of subscribers and are not currently accepting more. If spots become available, we will be sure to contact you. Please join the waitlist below.
Thank You!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.