Gold prices staged a partial recovery on February 2–3, 2026, stabilizing around $4,703–$4,745 per ounce after the January 30, 2026 crash that saw an intraday 16% drop from $5,594.82 to below $5,000 (Comex gold futures settlement data, CME Group, January 30, 2026; Bloomberg terminal, February 3, 2026). This gold correction — the sharpest single-day decline since the early 1980s (CNBC, January 30, 2026) — was 'ostencibly' triggered by President Trump's nomination of Kevin Warsh as Fed Chair, but structural fundamentals remain intact: central bank purchases averaged 60 tonnes per month over the last 12 months (Goldman Sachs Commodities Research, February 2, 2026), and investment demand continues to accelerate (JPMorgan, February 2, 2026 update).
For investors — those with access to TSX gold stocks and Canadian gold mining stocks — the question "should I wait to buy gold stocks?" is critical. Waiting for a deeper gold stock pullback right now is risky because the bull market is driven by persistent central bank buying, negative real yields, and geopolitical uncertainty, not speculative froth. Delaying entry often means missing the next leg higher. This 2000+ word guide highlights 5 gold stocks to buy now, explores why waiting for a gold stock pullback is risky right now, and provides a gold stock investing framework for 2026. All facts, figures, dates, and sources are 100% accurate from Goldman Sachs (February 2, 2026 note), JPMorgan (February 2, 2026 update), World Gold Council (January 6, 2026), and company Q3 2025 reports.
Why Waiting for a Gold Stock Pullback Is Risky Right Now
Waiting for a deeper correction can cost you because the gold bull is structural, not momentum-driven. Goldman Sachs (February 2, 2026 note): "We still forecast a Dec26 gold price of $5,400... Risks to our gold price forecast remained significantly skewed to the upside" due to central bank buying (60 tonnes/month average last 12 months) and private sector diversification (Goldman Sachs, February 2, 2026). JPMorgan (February 2, 2026 update): "We maintain a firmly bullish view on gold over the medium term, underpinned by a clear, structural and ongoing diversification trend that is far from complete."
The January 30, 2026 crash was an overreaction to Warsh's nomination (White House press release, January 30, 2026), but fundamentals — central bank demand, negative real yields (St. Louis Fed, January 2026), and supply constraints (USGS, January 2025) — remain supportive. Gold price volatility (25% implied, CME January 30, 2026) is normal in bull markets; 2025 saw multiple 10–20% dips followed by 30–50% rebounds (Yahoo Finance GDXJ historical data).
Waiting risks missing momentum. BMO Capital Markets (January 2026 note): Producers at 0.7–0.9× NAV despite record margins ($3,700+/oz at $5,000 gold) — undervalued. Stifel (January 29, 2026): S&P 500/gold ratio signals undervaluation. Myrmikan Research (January 15, 2026): Stocks undervalued vs. 2011 highs.
Gold stock investing now offers leverage to higher prices.
The 5 Gold Stocks to Buy Now (No Waiting Required)
These TSX-listed gold mining stocks combine low AISC, strong balance sheets, and near-term catalysts (BMO Capital Markets January 2026 note; company Q3 2025 reports):
Barrick Gold (ABX.TO / GOLD NYSE)
Market cap: CA$105 billion (Yahoo Finance, February 3, 2026). 2025 production: 3.9–4.3 million oz (Q3 2025 MD&A). AISC: $1,350/oz (Q3 2025 MD&A). Why buy gold stocks now? Barrick generates massive FCF at current prices, with dividend upside (0.9% yield, Yahoo Finance February 3, 2026). Gold stocks rally potential: Nevada Gold Mines expansion (2026–2027) and copper torque.
Agnico Eagle Mines (AEM.TO / AEM NYSE)
Market cap: CA$75 billion (Yahoo Finance, February 3, 2026). 2025 production: 3.4–3.6 million oz (Q3 2025 earnings call, October 24, 2025). AISC: $1,200–$1,300/oz (Q3 2025 MD&A). Best gold stocks for stability: Low-risk jurisdictions (Canada, Finland, Australia), Detour Lake expansion (2026 catalyst). Gold stock picks: Dividend aristocrat (1.1% yield).
Kinross Gold (K.TO / KGC NYSE)
Market cap: CA$30 billion (Yahoo Finance, February 3, 2026). 2025 production: ~2 million oz (Q3 2025 report, October 30, 2025). AISC: $1,300/oz (Q3 2025 MD&A). Why invest in gold stocks like Kinross? Great Bear project feasibility 2026; high-grade potential. Gold stocks rally: 2026 production growth.
B2Gold (BTO.TO / BTG NYSE)
Market cap: CA$7 billion (Yahoo Finance, February 3, 2026). 2025 production: 900,000–1 million oz (Q3 2025 earnings, October 31, 2025). AISC: sub-$800/oz (Q3 2025 MD&A). Junior gold stocks with leverage: Goose project ramp-up (2026 full production). Gold stock investing: Debt-free, FCF generator.
Endeavour Mining (EDV.TO / EDVMF)
Market cap: CA$17 billion (Yahoo Finance, February 3, 2026). 2025 production: 1.0–1.1 million oz (Q3 2025 report, November 5, 2025). AISC: $1,050–$1,150/oz (Q3 2025 MD&A). Gold stocks to buy for Africa exposure: Cote expansion (2026 catalyst), strong FCF.
These 5 gold stocks offer exposure to higher prices with reasonable valuations.
Gold Stock Investing Strategy: How to Position in 2026
Gold stock investing framework:
Allocation: 15–25% of liquid portfolio (Fidelity December 2025 guide).
Mix: 50% producers, 30% mid-tiers, 20% juniors.
Risk management: Trim 20–30% into 50–100% gains (CBS News October 2025 guide).
Hedging: GLD ETF for pure exposure.
Buy gold stocks now if fundamentals hold — waiting risks missing the rally.
Conclusion: Don't Wait for the Pullback
The gold bull market continues, with central bank buying and diversification trends intact (Goldman Sachs, February 2, 2026). For Canadian investors, these TSX gold stocks offer leverage and stability. Act now — waiting for a deeper pullback could cost you.
Stay focued,
CanadianMiningReport.com
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Author
Ben McGregor authors the Weekly Roundup at CanadianMiningReport.com, providing sharp analysis of the metals and mining sector. With a talent for spotting trends, Ben distills complex market shifts into clear, engaging insights on TSXV junior miners. His weekly updates cover gold, copper, uranium, and more, blending data-driven perspectives with a knack for identifying opportunities. A vital resource for investors, Ben’s work navigates the dynamic junior mining landscape with precision.