--- title: "Gold Stocks To Watch As Rising M2 Puts Inflation Hedges Back In Focus" type: "News" locale: "en" url: "https://longbridge.com/en/news/291456350.md" description: "Rapid U.S. M2 growth is highlighting inflation-hedge assets, specifically gold stocks. The article analyzes three major miners: Eldorado Gold (TSX:ELD), shifting to lower-cost copper-gold projects; New Gold (TSX:NGD), benefiting from strong earnings and Canadian exposure despite merger scrutiny; and B2Gold (TSX:BTO), offering diversified global production with buybacks but facing political risks in Mali." datetime: "2026-07-01T20:01:46.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291456350.md) - [en](https://longbridge.com/en/news/291456350.md) - [zh-HK](https://longbridge.com/zh-HK/news/291456350.md) --- # Gold Stocks To Watch As Rising M2 Puts Inflation Hedges Back In Focus Rapid growth in U.S. M2 money supply, with liquidity rising by $247.8 billion in May 2026 and $698.6 billion since January, is putting fresh attention on assets that could be sensitive to future inflation risks and sharper price swings. When money supply expands this quickly, asset prices often react before consumer inflation fully appears, which can reshape opportunities across sectors, including commodities and natural resources. This article walks through 3 large, financially strong stocks exposed to these macro shifts, explaining how the recent M2 surge could matter for each and what type of investor might want them on a watchlist. ## Eldorado Gold (TSX:ELD) **Overview:** Eldorado Gold Corporation is a Vancouver based miner that produces gold, as well as silver, lead and zinc, from a portfolio of operating mines and development projects across Turkey, Canada and Greece. **Operations:** Eldorado Gold generates about US$2.0b from mining, exploration and development activities, with revenue concentrated in Turkiye (US$908.3m), Canada (US$755.8m) and Greece (US$331.9m). **Market Cap:** CA$11.5b Eldorado Gold sits at the intersection of liquidity conditions and inflation risk, offering direct exposure to gold at a time when M2 growth is being monitored as a potential inflation signal for the period ahead. The company is ramping up new copper gold production at McIlvenna Bay and advancing the Skouries project, which together could shift its mix toward long life, lower cost assets while diversifying beyond pure gold. At the same time, investors need to weigh all in sustaining costs, reliance on external funding and regulatory risk in Turkey and Greece. For readers who want to see how these elements fit together into a fuller thesis, including valuation work and risk analysis, the Simply Wall St narrative provides additional detail. Eldorado Gold’s shift toward long life copper gold projects could be reshaping its risk reward profile just as liquidity is surging, but the full story only really comes into focus in the 4 key rewards and 3 important warning signs (1 is major!) TSX:ELD Earnings & Revenue Growth as at Jul 2026 ## New Gold (TSX:NGD) **Overview:** New Gold Inc. is a Toronto based intermediate miner that develops and operates the Rainy River and New Afton gold mines in Canada, producing gold with meaningful silver and copper by products. The company offers investors direct exposure to precious metals and copper prices through a focused portfolio of Canadian assets. **Operations:** New Gold generates about US$1.24b in revenue, with around US$817.5m coming from Rainy River and US$424.7m from New Afton, all from operations in Canada. **Market Cap:** CA$10.3b New Gold stands out in a world of rapidly expanding U.S. M2 because it produces gold and copper in a single, familiar jurisdiction, while also showing very strong recent earnings momentum, high 20.1% ROE and positive commentary around production guidance and cost control. At the same time, the P/E of 28.8x, reliance on external borrowing and shareholder concerns around the proposed merger terms mean investors need to scrutinize how much of the inflation and liquidity story is already reflected in the price and what could change if the deal proceeds or fails. The full picture of New Gold’s potential, including detailed risk work and valuation context, sits beyond these headline figures. New Gold’s earnings momentum, 20.1% ROE and pure Canadian exposure could be masking something investors have not fully priced in yet. The real twist sits inside the analyst forecasts for New Gold TSX:NGD P/E Ratio as at Jul 2026 ## B2Gold (TSX:BTO) **Overview:** B2Gold is a Vancouver based gold producer with operating mines in Mali, the Philippines, Namibia and Canada, plus a 100% owned development project in Colombia and additional exploration assets in Mali, Canada and Finland, giving investors diversified exposure to gold production across several regions. **Operations:** B2Gold generates about US$2.2b from the Fekola Mine, US$787.2m from Masbate and US$692.1m from Otjikoto, partly offset by a small segment adjustment. **Market Cap:** CA$7.2b B2Gold provides focused exposure to gold at a time when U.S. M2 growth is adding liquidity to markets and putting more attention on inflation hedges. The company combines a number of strengths with several tension points that merit consideration. On the positive side, it is already profitable, management has been reducing consolidated cash cost guidance, and new assets such as Goose and Gramalote are intended to add to production while shareholders have supported buybacks and dividends. On the risk side, significant exposure to higher risk jurisdictions such as Mali, cost uncertainty at Goose and recent insider selling all raise questions about how predictable the company’s growth path may be. Investors may wish to consider how these factors balance, weighing potential upside against the execution and political risks associated with B2Gold’s operating footprint. B2Gold’s growth story spans new projects, buybacks and dividends, yet its higher risk jurisdictions and cost questions are easy to overlook; the real tension shows up in the 4 key rewards and 2 important warning signs TSX:BTO Earnings & Revenue History as at Jul 2026 The three gold producers in this article are only a starting point. The full Commodities and Natural Resources screener uncovered 41 more companies with equally compelling narratives and macro hooks inside the Commodities and Natural Resources screener. ## Take Control of Your Investment Journey If B2Gold or any of these companies sound like a great opportunity, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value the ideal entry point. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market. ## Seeking Alternatives Beyond Gold Today? Fresh stock ideas do not stay under the radar for long. As momentum builds and prices start flying, the ideal entry points get caught quickly, so act now. - Catch early momentum in smaller companies with strong balance sheets by scanning the hand picked 11 elite penny stocks with strong financials before the crowd notices the shift. - Spot cash generative businesses where prices have not yet caught up by running the curated 8 high quality undervalued stocks while it still reflects current conditions. - Position ahead of potential infrastructure and energy shifts by reviewing the focused 89 nuclear energy infrastructure stocks while the theme is still building. _This article by Simply Wall St is general in nature. **We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.** It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned._ ### Valuation is complex, but we're here to simplify it. Discover if Eldorado Gold might be undervalued or overvalued with our detailed analysis, featuring **fair value estimates, potential risks, dividends, insider trades, and its financial condition.** Access Free Analysis ### Related Stocks - [BTG.US](https://longbridge.com/en/quote/BTG.US.md) - [NGD.US](https://longbridge.com/en/quote/NGD.US.md) - [EGO.US](https://longbridge.com/en/quote/EGO.US.md) ## Related News & Research - [Groupe la Francaise Acquires 650,000 Shares of B2Gold Corp $BTG](https://longbridge.com/en/news/294580464.md) - [BTO: Q2 2026 delivered robust gold output, higher net income, and improved cost performance](https://longbridge.com/en/news/295155537.md) - [Canada's B2Gold Q2 revenue and adjusted EPS miss estimates, narrows 2026 gold production guidance](https://longbridge.com/en/news/295150278.md) - [Val-d'Or Mining says Perestroika drill hole PE-26-027 hits 3.08 g/t gold over 84 m](https://longbridge.com/en/news/294956326.md) - [AEM: Organic growth and regional expansion drive a compelling long-term gold production outlook](https://longbridge.com/en/news/294696498.md)