Billionaire investor Ray Dalio made headlines this week by asserting in a 6 000-word essay that gold should become a key part of every portfolio. Investors in Canadian gold stocks are way ahead of him.
Gold producers have been on a tear in Canada, keeping the benchmark S&P/TSX Composite Index near its all-time high. Companies, including Eldorado Gold, Alacer Gold and Semafo make up half the index’s biggest gainers this year, while nine of the top 10 in the past month have been gold or silver producers. The gold firms have taken the reins from technology and pot stocks, which were the drivers earlier this year.