New Trade for June 10, 2020

Gold may be one of the best bets at the moment.

Just yesterday, we highlighted opportunity in oversold shares of Barrick Gold (GOLD), and watched it tack on 76 cents to $24.33.  It’s set to open up another 44 cents this morning.  However, this may be the beginning of a much bigger run for such stocks, and gold.

All thanks to the Federal Reserve, which isn’t likely to make any policy changes any time soon.

That’s because, “The global economic recovery will still require further aid and gold prices should still be supported over the medium-term,” wrote Edward Moya, senior market analyst at brokerage Oanda, as quoted by MarketWatch.

With the Fed and global central banks flooding the world with liquidity, higher gold prices can be supported. Even Bank of America just raised its 18-month price target to $3,000 an ounce.  

With higher highs possible, some of the top gold stocks to consider include:

  • Barrick Gold (GOLD)
  • Gold Fields (GFI)
  • B2Gold (BTG)
  • Kirkland Lake Gold (KL)
  • VanEck Vectors Gold Miners ETF (GDX)