Mining stocks are booming in gold mining companies and mining stocks in China, the U.S. and Japan are up significantly.
In the U.”s case, mining stocks have risen nearly 500% since December, according to CoinDesk.
That’s a big increase from the previous six months, according the website.
The latest bull run in mining stocks has been fueled by demand from mining equipment makers and a growing appetite for mining-related technologies. “
The stock market has been surging since late 2014 and has risen again since the beginning of this year,” said Mike Kagan, managing director of investment at Kagan Investment Research.
The latest bull run in mining stocks has been fueled by demand from mining equipment makers and a growing appetite for mining-related technologies.
Gold mining stocks on the New York Stock Exchange have been up almost 800% since late last year.
The bull market in mining shares was fueled by investors buying up equipment to mine gold from asteroids in the hopes of becoming rich, as well as an expansion in the number of asteroids that are thought to be rich enough to be mined.
Last year, more than 30% of the asteroids in Earth orbit had already been mined.
The new boom in mining stock prices is also a result of companies investing in mining technology and mining infrastructure, Kagan said.
Gold mining stocks were up about 7% in January, up from a 0.9% increase in December.
This bull run has also fueled speculation in China that mining stocks will overtake silver as the world’s top asset.
The Chinese central bank has been trying to stimulate the gold market, boosting its gold reserves by buying gold bullion and gold ETFs.
The U.K. and other Asian nations are also seeing strong growth in mining companies, and mining stock market indexes are up nearly 100% year over year.