Gold prices hit record highs just the other day. However, according to Goldman Sachs, the metal could move even higher, potentially to $2,700 this year. All thanks to safe haven demand, considerable interest from global central banks, and conflict in the Middle East.
Helping, central bank buying isn’t showing any signs of cooling off, with China buying even more for the seventeenth month in a row, says The Wall Street Journal. All of which is fueling speculation over the potential devaluation on the yuan, “amid geopolitical concerns over heightened aggression with Taiwan.”
That being said, keep an eye on gold stocks, like Barrick Gold (GOLD), B2Gold (BTG), Newmont (NEM), and related 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 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.
