Gold Just Cracked $2,000 and Could Head Higher

Apr 04, 2023
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Gold just spiked above $2,000.

Last checked, gold was up $35.14 to $2,020.60 and could push even higher. All after the release of weak U.S. economic data. Job openings fell to 9.93 million from 10.5 million in February, below the 10.4 million expected. Factory Orders fell 0.3% in February, as compared to expectations of a 0.5% decline, and January’s figures were revised lower from -1.6% to -2.1%.

The dollar and U.S. Treasury yields are lower, too.

That being said, investors can always look to popular gold stocks, such as Barrick Gold (GOLD), Newmont (NEM), Royal Gold (RGLD), etc., or even hot gold ETFs, such as:

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.

Sprott Junior Gold Miners ETF (SGDJ)

With an expense ratio of 0.35%, the SGDJ ETF 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 whose stocks are listed on regulated exchanges.

Or, we can even look at a gold ETF such as the SPDR Gold Shares (GLD), which is the largest physically backed gold exchange traded fund (ETF) in the world.