The Single Biggest Reason to Own Gold-Mining Stocks Right Now
It's been a wild past two weeks for the stock market. Last week, the market delivered its single-worst week since October 2008, with the iconic Dow Jones Industrial Average, tech-focused Nasdaq Composite, and benchmark S&P 500 losing 12.4%, 10.5%, and 11.5%, respectively, of their values.
Additionally, in a span of three trading sessions, we witnessed the largest single-session point decline for all three major U.S. indexes (Feb. 27), followed by the biggest single-day point increase in history for those same indexes (March 2). Stock valuations have been all over the board, and the global spread of coronavirus disease 2019 (COVID-19) is to blame.
But as fears concerning the COVID-19 illness have ramped up, so has the per-ounce price of physical gold. In February, an ounce of the shiny yellow metal briefly surpassed $1,680, marking a seven-year high.
Source Fool.com
