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TSX Venture catches fire as gold stocks surge

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Unigold

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.

 

tsx-rally

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:

tsxv-1month

 

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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