Gold Mining Stocks Notch Ninth Positive Day, Hit August 2020 Highs: 'Today Is A Good Time To Add Exposure,' Analyst Says
Portfolio Pulse from Piero Cingari
Gold mining stocks, tracked by the VanEck Gold Miners ETF (GDX), have reached their highest levels since August 2020, driven by strong investor demand and record-high gold prices. Analyst Imaru Casanova suggests adding gold exposure due to geopolitical and economic risks, and highlights the profitability and low valuations of gold miners.
October 22, 2024 | 8:11 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The VanEck Gold Miners ETF (GDX) has reached its highest levels since August 2020, driven by strong investor demand and record-high gold prices. Analyst Imaru Casanova suggests that gold should be a core component of a diversified portfolio, especially given rising geopolitical and economic risks.
GDX has seen a significant rise due to record-high gold prices and investor demand. The analyst's recommendation to add gold exposure suggests a positive outlook for GDX, especially in the context of geopolitical and economic uncertainties.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100