Gold stocks and the TSX Venture soared to new multi-month highs Friday. The tailwind of momentum driving gold stocks, such as Unigold, which hit a new 52-week high recently, and the TSX Venture higher is growing as investors seek out alternatives in a negative interest rate environment.
Bank of Montreal’s chief investment strategist explained in a BNN interview why he believes the Canadian markets are poised to outperform the U.S. markets in 2016.
Click here or the image above to watch the interview.
TSX Venture gold stocks rally in March Stock Challenge
Unigold (UGD:TSXV) extended its rally to a new 52-week high of $0.29 Friday. The junior gold stock closed up 23.9% to capture the Daily Stock Challenge Breakout award. Pinnacle member ‘auminer3000’ selected Unigold for March and saw his combined average return climb to 27.38% – good enough for 12th place overall.
The TSX Venture topped all North American indices with a 1.7% move to finish the week at 562.39. Check out the 1-month chart on the Venture:
The TSX Venture is on fire, rising in 11 of the past 13 trading sessions. Long-time member ‘Dougal’ finished the week where he began it – on top. His two oil stocks have been performing very well as WTI crude settled above $36 per barrel.
Dougal sat with a 68.01% combined average return Friday afternoon. While February’s Stock Challenge had the best overall average return in years (11.49%) – March is already shaping up to be a great month for many.
Long-time member and past Stock Challenge Champ ‘rvandel’ finished the day in 20th with a 19.84% return, while 50th place ‘Currower’ finished in double digits with a 10.93%. These are phenomenal returns in just 4 trading days.
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