The gold bull market is back.
With the economy in a tough spot, analysts have said we could see $2,500, $3,000, even $5,000 gold. After all, most of the economic issues that supported gold in 2020 have carried over into the New Year. Plus, low interest rates, inflationary pressures, and an easy money policy from the Federal Reserve have all been just as supportive.
There’s also no shortage of gold bulls.
Analysts at Citi for example have a $2,500 price target, comparing its catalysts to that of gold’s rally between 1970 and 1980. Analysts at Commerzbank Commerzbank expect for “inflation concerns to push gold to $2,000 an ounce by the end of the year, adding that inflation could remain at a very high level into the third quarter, prompting the Fed to reduce bond purchases by around the fourth quarter,” as noted by Reuters.
Should gold push higher as many expect, some of the top stocks to consider include:
- Kirkland Lake Gold Ltd. (KL)
- Barrick Gold Corp. (GOLD)
- Newmont Corporation (NEM)
- Global X Gold Explorers ETF (GOEX)
- VanEck Vectors Gold Miners ETF (GDX)