Gold is hitting record highs.
And there’s still further upside ahead.
Gold last traded at $5,207 and could test $7,000, even $10,000 at some point, according to analysts.
That’s as the Federal Reserve pivots toward more interest rate cuts, mounting geopolitical tensions, and a wave of central bank buying, especially as countries diversify away from the U.S. dollar. According to SAMCO Securities, gold could test $7,000, driven by further geopolitical uncertainties, sky-high deficits, central bank demand, and the real interest rate environment, as noted by Business Standard.
Others, according to SBG Securities, are calling for $10,000 gold based on monetary policy, geopolitical issues, and a weaker U.S. dollar, as noted by Investing.com. They added that a key driver of gold prices depends on the outlook for interest rate cuts. Markets are currently pricing in two cuts this, but the firm seems room for more, noting that “three cuts could push gold to
With big upside ahead, consider using ETFs such as:
VanEck Vectors Gold Miners ETF (SYM: GDX)
Not only can you gain access to some of the biggest gold stocks in the world, you can do so at less cost with the VanEck Vectors Gold Miners ETF (GDX).
The ETF holds positions in Newmont Corp., Barrick Gold, Franco-Nevada, Agnico Eagle Mines, Gold Fields, and Wheaton Precious Metals to name a few.
Even better, shares of mining stocks often outperform the price of gold. That’s because higher gold prices can result in increased profit margins and free cash flow for gold miners. In addition, top gold miners often have limited exposure to riskier mining projects.
Sprott Junior Gold Miners ETF (SYM: SGDJ)
The Sprott Junior Gold Miners ETF (SGDJ) seeks investment results that correspond (before fees and expenses) generally to the performance of its underlying index, the Solactive Junior Gold Miners Custom Factors Index. The Index aims to track the performance of small-cap gold companies.
Global X Gold Explorers ETF (SYM: GOEX)
The Global X Gold Explorers ETF (GOEX) invests in companies involved with gold deposit exploration. Some of its top 50 holdings include Coeur Mining, Lundin Gold, Hecla Mining, New Gold Inc., SSR Mining, and Alamos Gold. GOEX also pays a semi-annual dividend.
Related Reading: Gold surged past $5,000… but this has beat gold by 1,000x
Gold recently surged to $5,000 an ounce.
Up almost 25% in the last six months.
And 45% in the last year.
But we believe this is just the start.
Weiss Ratings' in-house gold expert Sean Brodrick … who has been tracking precious metals for over three decades … believes gold could surpass $6,900 very soon.
However, here's what Sean knows that most people don't …
Every time gold has made big moves, there's another investment that has done WAY better.
Imagine banking 21 times … 49 times … 157 times … 218 times … even 1,386 times more than just holding physical gold.
It happened in the 1970s.
It happened in 2008.
And Sean thinks it could happen again right now.
The best part? You don't need to buy a single gold coin to have a chance at gains like that.
Most folks have no idea it even exists, but this is the exact same strategy that gave smart investors an opportunity to make an incredible 26,000% gain during a past gold bull run.
With gold at record highs right now and showing no signs of stopping, this opportunity is heating up fast.
Don't delay.
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Written by Ian Cooper