Why Gold Stocks Beat the Market in September
There's no question that September was a rough month for investors as the S&P 500 gave up 9.3% and the tech-heavy Nasdaq fell 10.5%.
However, during a month where nearly all stocks finished lower, one group of stocks not only beat the market in September, but also recorded solid gains. That's gold stocks. In fact, SSR Mining (NASDAQ: SSRM) and Barrick Gold (NYSE: GOLD) finished the month in positive territory, while i-80 Gold (NYSEMKT: IAUX) was down just slightly. According to data from S&P Global Market Intelligence, SSR Mining gained 9.1%, while Barrick Gold increased 4.4%, and i-80 Gold fell just 3.3% on the month.
As you can see from the chart below, all three stocks mostly tracked the stock market indexes until they soared in the last few days of September.
Source Fool.com
