Gold Hits New All-Time Highs: 3 Stocks to Ride the Surge
Gold has surged to a new all-time high, rising 33.5% over the past year to $2,583.64/oz. This is driven by easing inflation and expectations that the Federal Reserve will cut interest rates after recent data signaled a slowing U.S. economy. As inflation nears the Fed’s 2% target, gold has become a go-to haven for investors looking to protect against potential economic turbulence. Silver has also followed suit, gaining just over 32% during the same period.
The weakening of the U.S. dollar, coupled with the anticipation of the Fed cutting interest rates this week, has pushed the price of gold higher. As a result, the popular SPDR Gold Shares ETF (ARCA:GLD) recently broke out of a multi-week consolidation phase and reached new all-time highs, bringing its YTD gains to an impressive 24.8%.
With gold’s strong performance and the potential for continued upside, investors may look to capitalize on this momentum through gold-related stocks. Here are three options that could offer exposure to this trend.
SPDR Gold Shares ETF: A Simple Way to Invest in Gold
The SPDR Gold Shares ETF is one of the most popular and straightforward options for investors seeking exposure to gold’s price movements. The ETF directly reflects the performance of gold bullion minus the Trust’s expenses, which come in at …
Full story available on Benzinga.com
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