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3 Gold Stocks to Benefit From the Rally

Sam Boughedda trader
Updated 17 Oct 2023

Gold has been on a tear in recent weeks, and after a strong rally on Friday, it is now well above the $1,900 level. In fact, last week, the yellow metal had its biggest week since March.

This surge has been driven by various macroeconomic and geopolitical factors.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


If you're looking to invest in gold, there are a number of ways to do so. You can also invest in gold ETFs or gold mining stocks. You can even buy physical gold, such as coins or bars.

Gold mining stocks can be a great way to invest in the yellow metal. Here are three gold stocks that are well-positioned to benefit from the current surge:

1. Barrick Gold (NYSE: GOLD)

GOLD is one of the world's largest gold producers. The company has a strong track record of profitability and a diversified asset base. Barrick Gold is also well-positioned to benefit from rising gold prices, as it has a number of low-cost mines.

2. Newmont Mining (NYSE: NEM)

NEM is another of the world's largest gold producers and has a similar business model to Barrick Gold, with a focus on low-cost production and a diversified asset base. Newmont Mining is also well-positioned to benefit from rising gold prices.

3. SPDR Gold Shares (GLD) 

GLD is the largest gold ETF in the world. It has a low expense ratio of 0.40%, high liquidity, and a low tracking error, making it a good choice for investors who are looking for broad-based exposure to the gold market.

Gold prices can be volatile, and gold stocks can be even more volatile. However, if you're looking for a way to invest in gold, these three stocks are a good place to start.

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YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.