From a new article, gold stocks looking bullish18 Jul 2024 06:29
Gold exchange traded funds (ETFs) hold bullion on your behalf. Broker Interactive Investor recommends the iShares Physical Gold ETF in which I have a small amount of money.
Gold mining stocks could be worth a bet: the surge in the price of this metal means that these companies' steep production costs should be covered.
Ole Hansen, head of commodity strategy at Saxo Bank, says: 'Shares in gold mining companies are undervalued, offering potential for investment returns.'
Dan Boardman Weston, of BRI Wealth Management, says: 'It looks increasingly likely that gold prices will remain elevated and that this will flow through to higher revenues and higher profitability for listed gold miners. I'd favour the VanEck Gold Miners ETF. It provides exposure to the larger gold miners, such as Newmont, Barrick Gold and Franco-Nevada across a number of different geographical areas.'
Newmont is the world's largest gold mining group. It made losses in 2023, but this year it is expected to produce 6.9m ounces of gold, compared with 5.5m last year.