Gold is offering a goldmine opportunity.
After pulling back to less than $1,700 this year, gold is back above $1,900, and could see $2,500. With inflationary pressures, high levels of spending, and the U.S. dollar pulling back, this may be the best time to accumulate gold stocks.
Better, there are plenty of gold bulls.
Guggenheim’s CIO Scott Minerd for example says gold prices could run anywhere between $5,000 and $10,000 an ounce. As money leaves crypto and people are still looking for inflation hedges, gold and silver are going to be much better places to go,” Minerd told CNBC in an interview. It will take some time due to the sheer size of the gold market, but the precious metal will enter an “exponential phase,” Minerd said, as quoted by Kitco.
Lee Munson, president and CIO of Portfolio Wealth Advisors says gold could see $2,200. “I don’t buy gold for a crisis. I buy it because when there’s a crisis, and I think the central banks are going to print money like there’s no tomorrow, that’s the time when I want to have a larger holding of gold,” he said, as also quoted by Kitco.
Some of the top trades to consider as gold pushes higher 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)
The post The Top Ways to Trade the Potential for $2,200 Gold appeared first on Morningology.
