Gold has tumbled from record highs, but the sell-off is not stopping several gold miners from flashing stronger momentum signals.
SSR Mining Inc. (NASDAQ:SSRM), Centerra Gold Inc. (NYSE:CGAU), and Eldorado Gold Corp. (NYSE:EGO) are climbing Benzinga Edge momentum rankings even as bullion cools from its earlier surge.
Gold Miners Climb Momentum Rankings
According to Benzinga Edge Stock Rankings, SSR Mining’s momentum score rose from 86.13 to 92.66, pushing the stock deeper into top-tier momentum territory. The stock also boasts a solid value and quality score. SSRM stock has surged 40.02% year-to-date, 3.36% over the month, and 141.13% over the year. It was down by 3.32% in premarket on Tuesday.
Centerra Gold also remains strong, moving from 86.13 to 89.14. While its price trend is weaker in the short and medium terms, it was stronger in the long term, with a moderate growth score. Up 14.49% YTD, the stock gained 0.73% over the month and 133.665 over the year. It was down by 3.68% in premarket on Tuesday.
Eldorado Gold posted the sharpest improvement of the group, jumping from 20.67 to 58.72. With a weak medium trend, it boasted a strong value score. Down by 10.41% YTD, it was up 3.29% over the month and 55.40% over the year. The stock is down by 3.61% in premarket on Tuesday.
The momentum score measures a stock’s relative strength based on price movement patterns and volatility across multiple timeframes. The divergence is notable: gold itself has pulled back, but select miners are still gaining traction on the rankings screen.
Gold’s $5,000 Comeback Looks Tough
The move comes as analysts debate whether gold can reclaim the $5,000-per-ounce level after a dramatic run.
Rick Kanda, managing director at The Gold Bullion Company, said gold peaked at $5,500 per ounce in early 2026 before falling back toward $4,300.
"I think the $6,000/oz forecast is maybe a little out of reach," Kanda said, "but if global central banks maintain their gold buying momentum, gold has a good chance at hitting that $5,000/oz value mark."
Kanda said gold’s earlier breakout was driven by "a weaker dollar, sustained central bank buying and rising geopolitical tension," including uncertainty tied to possible U.S. strikes against Iran.
As of the publication of this article, Gold Spot US Dollar fell 1.45% to hover around $4,130.74 per ounce. Its last record high stood at $5,595.46 per ounce. Meanwhile, the ETF tracking it, SPDR Gold Trust (NYSE:GLD), was 1.43% lower at $379.08 in premarket on Tuesday.
Central Banks Keep Gold In Focus
The long-term gold thesis has not disappeared. Sprott said gold’s recent consolidation "does not change the thesis," citing inflation, central bank buying, and currency debasement concerns as continuing supports.
The Gold Bullion Company’s research also showed the United States remains the world’s largest gold holder, with 8,133.5 tonnes valued at roughly $897.3 billion.
For investors, the setup is a split screen: bullion’s panic bid has faded, but miners such as SSR Mining, Centerra Gold and Eldorado Gold are still climbing the momentum board.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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