Gold stocks are pushing higher.
Last checked, the metal was up another $16.38 to $1,959.30, and could be headed to $2,000. All after the Federal Reserve hiked interest rates by just a quarter point, and said hikes were nearing an end.
“The Committee will closely monitor incoming information and assess the implications for monetary policy,” the FOMC’s post-meeting statement said. “The Committee anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.”
That being said, investors can always look to popular gold stocks, such as Barrick Gold (GOLD), Newmont (NEM), Royal Gold (RGLD), etc., or even hot gold 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 SGDJ ETF seeks investment results that correspond (before fees and expenses) generally 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.
Or, we can even look at a gold ETF such as the SPDR Gold Shares (GLD), which is the largest physically backed gold exchange traded fund (ETF) in the world.