With Gold Heading to $2,500, Diversify with these Hot ETFs – 3/11

Gold is about to cross $2,200, and could be headed to $2,500 next.

That’s great news for the Barrick Gold (GOLD) stock we mentioned on March 6.  While we still like Barrick, we also like Newmont (NEM), which is just starting to push aggressively higher.  Last trading at $34.25, we’d like to see NEM initially refill its bearish gap round $38.

Remember, Investors are jumping back into gold as a safe haven. Gold demand is expected to climb even more, as global central banks race to buy gold.

According to Bloomberg, “Central-bank buying maintained a breakneck pace, with annual net purchases of 1,037 tons last year, just 45 tons shy of the record set in 2022, the WGC said in the report. It expects central-bank buying to top 500 tons this year.” In addition, gold is surging in hopes the Federal Reserve will start cutting interest rates in the second half of the year.

We have an upcoming Federal Reserve meeting that may impact gold. And as noted by Gold.org, “Iran’s parliamentary elections shouldn’t in themselves create waves, but the country’s consumers are major gold buyers and their elections could pave the way for an important political secession.”

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Two ETFs that could run higher with gold include:

VanEck Vectors Gold Miners ETF (GDX)

One of the best ways to diversify at less cost is with an ETF, such as the VanEck Vectors Gold Miners ETF (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 an expense ratio of 0.51%, the ETF holds positions in Newmont Corp., Barrick Gold, Franco-Nevada, Agnico Eagle Mines, Gold Fields, and Wheaton Precious Metals to name a few.

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Company: Sprott Junior Gold Miners ETF (SGDJ)

With an expense ratio of 0.35%, the Sprott Junior Gold Miners ETF (SGDJ) seeks investment results that correspond 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 whose stocks are listed on regulated exchanges. 

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