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Gold is still hitting record highs.
And there’s still further upside ahead.
Gold last traded at $5,051 and could test $7,000, even $10,000, even $12,000, at some point, according to analysts.
That’s as the Federal Reserve’s 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.
Now, according to Myrmikan Capital’s founder Daniel Oliver, we’re in the early phases of a massive bull market for the metal.
“Oliver explains that over history, markets have forced central banks to keep gold reserves at between one-third and one-half of their balance sheets, implying a price between $8,395 and $12,595 per ounce. As long-term Treasury bonds are ‘worth less than where the Fed-manipulated market prices them,’ a panic could bring those reserves at least temporarily up to 100%, he says,” as noted by Morningstar.com.
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.
Continue Reading: Gold’s all-time high is just the beginning
Gold continues to hit new record high after new record high... with no signs it will slow down anytime soon.
In fact, investment banks just raised their targets to $10,000/oz... mere weeks after predicting $5,000.
Even Jim Cramer now admits to being a gold bug.
But nearly everyone is missing an even bigger story... by not talking about the absolute best way to invest in gold right now.
See, normally when gold prices soar like this... most folks rush to buy physical bullion or coins.
Others pile into gold ETFs like the SPDR Gold Trust.
Still others bet on risky mining stocks.
But we've found a much better way for you to cash in on this gold frenzy.
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Written by Ian Cooper