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Watchlists-Penny Stock Investment Strategy

8 Gold and Silver Penny Stocks to Watch in 2024

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Written by Timothy Sykes
Updated 5/22/2024 13 min read

Gold & silver penny stocks are a category that’s getting a lot of attention…

They’re penny stocks so they’re cheap, and have a lot of growth potential.

And they’re linked to gold and silver, giving them real value

At least that’s how the story goes.

Do I think gold & silver penny stocks have real value? No — not most of them at least.

So if you’re looking for a good investment, or to get rich quick, look elsewhere.

The market is a ‘discounting machine.’ This means that any expected value is already priced in.

There are no deals in the market. And if you think you’ve stumbled on one, you’re likely missing something.

I teach my students to avoid this kind of thinking.

And it’s why I never give out stock picks. I study what’s happened in the past and look at reasons why it might happen again.

Then I watch to see what happens. When a setup I can trade presents itself, I want to be ready.

This is what I’ll talk about in this article. Gold & silver penny stocks have been catching the market’s attention…

Especially in the Reddit and Robinhood era. Gold & silver mining penny stocks seem like lottery tickets — there’s no telling when they can pay off.

I want you to avoid this kind of thinking. Instead, I’ll show you how these low-priced stocks have already been paying off.

Why Should You Trade Gold & Silver Penny Stocks?

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Let’s get something straight: I’ll never tell you which penny stocks I think you should buy.

My trading style is based on learning chart patterns and getting in screen time. My 20+ years of penny stock trading experience helps me trade in any kind of market and any sector.

There’s no substitute for studying and screen time. I can’t make you see the trade opportunities I see…

But I can point you in the right direction so you can learn it for yourself. That’s why I built my Trading Challenge.

I learned how to trade on my own. When I started out, I was trading about $12,000 of my bar mitzvah money.

I’ve now built it up past $7.6 million. It wasn’t easy.

I had to learn EVERYTHING on my own and learn from my own mistakes.

Find out how I almost blew up my account — read my book “An American Hedge Fund.” In it, I talk about my early success and how I let it get to my head. I ended up ignoring my own rules and believing in my trades. And I didn’t cut my losses quickly enough.

So when I preach caution, I’m speaking from experience.

I tell my students NEVER to believe in ANY stock. Penny stocks are about patterns, charts, and high-probability setups.

So if you study patterns…

… and avoid bad, impulsive decisions…

… and cut your losses quickly…

You could stand a chance of becoming a self-sufficient trader.

If you’re ready to give up your get-rich-quick dreams, apply to my Trading Challenge.

We don’t accept everybody. But if you’re ready to play by the rules, you’ve got a good shot.

List of 8 Gold & Silver Penny Stocks to Watch

list gold e silver penny stocks
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This gold & silver penny stocks list is NOT some kind of cheat sheet. I don’t know which stocks will rise in the future…

And I’ll never tell you the best gold & silver penny stocks to buy right now.

It’s not because I’m holding out on you. There’s just no such thing as a 100% safe trade.

Copying another trader’s picks won’t help you in the long run or the short run. If you’re not working from your own watchlists and charts, you’ll enter trades late…

And that’s a surefire way to exit your trades too late. There are no shortcuts.

I made this gold & silver penny stocks list by looking at former runners, and stocks with upcoming news…

That’s how I make all of my watchlists. I’m not saying I’ll trade these stocks or that you should trade them.

I’m saying that they’re worth watching for ME. Do these gold & silver penny stocks belong on your watchlist?

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You need to figure that out for yourself. But I show my work on this watchlist. So pay attention — that’s how you’ll learn my process.

And I post a different watchlist every day of the trading week. Check them out here:

At the start of every week, I send out a watchlist with my top watches. Sign up for my no-cost weekly watchlist here.

Gold & Silver (Not Quite Penny) Stocks Under $12

Let’s break down this watchlist by price range.

This is the top end of low-priced gold & silver stocks. They aren’t penny stocks anymore…

For some traders, that’s a good thing. Stocks in this price range still see a good amount of volatility…

Volatility is essential to trading. Check out my “Volatility Survival Guide” for some expert tips on harnessing it.

These stocks are tied to companies that have real businesses — not just future potential.

Centerra Gold Inc. (NYSE: CGAU)

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To see real movement in a stock, you usually need a catalyst.

Some of the best catalysts are news about a stock … and Centerra has some coming its way.

About 60% of its 2020 revenues came from its Central Asian subsidiary, Kumtor Gold Co. Its flagship mine is in Kyrgyzstan — and last month, the country seized it.

Now Centerra and Kyrgyzstan are discussing a divorce. The company is 26% Kyrgyz-owned, so the settlement might be fair.

Who knows? If there’s action, I’ll be watching.

Gold & Silver Penny Stocks Under $5

Let’s get into actual penny stocks — stocks that trade for under $5 a share. (New to penny stocks? Start with my FREE online guide here.)

These are the stocks I’ve traded throughout my career. I like them because there’s less competition from the trading establishment…

To me, the catalysts that move these stocks are easier to understand.

Most penny stocks aren’t a good investment. Their price increases are usually followed by a fall…

For traders, their volatility and low cost can be really useful.

Once you understand the patterns they follow, you can begin to trade them.

Fortuna Silver Mines Inc (NYSE: FSM)

Fortuna is a relatively small producer. It has two working mines, and another on the way.

It’s had an AWESOME past couple of months — climbing nearly 100%!

Avino Silver & Gold Mines Ltd. (NYSE: ASM)

ASM explores for gold, silver, and copper in Canada. The company recently announced it will increase its exploration and drilling program in 2021.

Read the company’s 2020 fourth-quarter earnings and year-end report here.

Gran Colombia Gold Corp. (OTCQX: TPRFF)

Gran Colombia released a good earnings report in mid-December. It had a colossal run-up … and not much since.

The volume tends to be low, even when it’s running.

This can be a dangerous combination. Don’t end up stuck in a stock.

Minera Alamos Inc. (OTCQX: MAIFF)

As the price of gold has risen, so has MAIFF stock.

This is a small Canadian company with gold, silver, and copper stakes in Mexico. It’s on the way to production at its latest gold mine there.

The next piece of news might pull it out of its sideways chop.

Gold & Silver Penny Stocks Under 10 Cents

Stocks in this category are the wildcards of the penny stock world.

They’re usually not up to much in a business sense. Believe in their prospects at your own risk.

Despite their sketchiness, they can make for good trades…

If you avoid the hype.

Sokoman Minerals Corp. (OTCQB: SICNF)

This Canadian mining company went parabolic in 2021.

In March it traded at 15 cents. Its June peak hit 64 cents.

But its relatively low volume should make you wary. That said, when it spiked in March, it posted several days of unusual volume

This is how a former runner should look. It moves on news and produces a lot of it. Over the past year, it acquired one property and sold another.

Both news items produced multi-day runs. Hopefully, it won’t be long before the next catalyst.

New World Gold Corp. (OTCPK: NWGC)

New World came out of nowhere this year.

It spent 2020 trading at sub-penny levels. It didn’t hit a tradeable volume till late in the year…

It’s since cracked 3 cents. Now it’s back to under 1 cent.

It’s still trading over 100 million shares on average in the past month. This is pretty high volume for a pink sheet stock tagged with a ‘stop sign’…

That means they’re not releasing info to the public.

They’re still releasing press releases though. So I’ll keep watching for the next run.

Newrange Gold Corp (OTCQB: NRGOF)

Newrange is just above the 10-cent mark…

Several analysts think it’s a buy. How significant is that for its potential moves? I couldn’t tell you that.

But people more in the know about gold mining than I have called it undervalued.

The Bottom Line on Gold & Silver Penny Stocks

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Things in the market are cyclical.

That’s why I emphasize studying in my Trading Challenge. All of these trends have happened before.

Gold & silver penny stocks can seem an exception to this rule … Newbie traders think they could have real value.

But experienced traders can see the trends. I’ve been teaching the same patterns for the past two decades. That’s because they haven’t changed.

Penny stocks still rise on news, then 99% of the time, they fail.

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I don’t want to see anyone get taken in by the hype. There’s no ‘striking it rich’ with penny stocks…

There’s only hard work and lots of screen time. If you’re new to it, I hope this article is just a start. 

What do you think about my gold & silver penny stock watchlist? Let me know in the comments — I love hearing from my readers.

Frequently Asked Questions About Gold & Silver Penny Stocks

The following questions keep coming up, so let’s cover them…

Can I Get Rich Off of Penny Stocks?

If you’ve read my blog before, prepare for some déjà vu … Yes, you can make money by trading penny stocks — and no, it’s not typical. All trading is risky. There are no guarantees. If you have a get-rich-quick mindset, it will be even less likely.

What Is Penny Gold?

“Penny Gold” is a half-decent British whodunit film from 1973. It won’t help you trade gold & silver penny stocks. But the right trading education can help you learn to spot and navigate the hottest penny stocks in the market.

How Can I Invest in Real Gold?

There are a number of ways to invest in gold, but that’s outside of the scope of this post. I trade penny stocks and have for 20+ years. That’s why I know this niche so well and LOVE it. Investing just isn’t my bag.

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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”