There is more than one way to invest in gold. Aside from buying and storing physical gold, gold stocks let you invest in companies involved in the mining and production of this precious metal. These companies can potentially generate higher returns than an investment in physical gold. Many gold stocks also offer dividends, which may result in higher investment overall returns.
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10 best gold stocks of 2024
These are the best gold stocks based on year-to-date (YTD) performance for 2024.
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Stock and ticker
Stock description
YTD return
Equinox Gold Corp (EQX)
EQX is a gold mining company specializing in the exploration, development and operation of gold mines.
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What are gold stocks?
Gold stocks are typically comprised of the following:
Gold mining companies. These companies specialize in the exploration, mining and selling of physical gold. Mining stocks allow you to directly link your capital to the success of these mines and the changing value and price of gold. Many offer the added benefit of dividends.
Gold royalty and streaming companies. These companies provide mining companies with capital to expand or develop their projects and, in return, receive a percentage of the mine’s revenue or gold production.
Meanwhile, gold futures let investors speculate on the future price of gold. While companies can use gold futures to lock in gold prices on an expected future purchase or sale, investors may trade gold futures as a way to speculate on the future price of gold without taking physical delivery of the asset. Examples of brokers that offer futures trading include Interactive Brokers and tastytrade.
What Matt thinks about investing in gold stocks
Don't confuse gold stocks with gold ETFs. Most gold ETFs expose you to the price performance of physical gold. When you buy gold stocks, you're investing in a business, which comes with different advantages and risks. For example, regardless of the going price for gold, a poorly run gold mining company can still fail as a business. This isn't a risk you'd face by investing in gold itself.
The best gold stock to invest in is Equinox Gold Corp (EQX), according to our analysis based on YTD returns as of October 2023.
When you buy gold stocks, you are investing in gold companies. These companies can potentially generate higher returns than an investment in physical gold. Physical gold is a relatively stable investment that doesn't experience the same volatility as stocks. If you are looking to hedge against large drops in the market, you may want to consider investing in physical gold as a way to protect your wealth. Gold stocks, on the other hand, have the potential for higher gains but are subject to market volatility.
Gold is a relatively stable asset, and gold stocks are generally considered safe. But just like any stock, they are subject to market volatility.
Gold stocks are more closely correlated to the overall stock market, whereas gold ETFs track the price of gold itself. When you buy gold stocks you are directly investing in a company involved in the mining and production gold. Many gold stocks also offer dividends.
Jaclyn Hurst was an associate publisher at Finder. She has a Bachelor’s degree in Business from Redeemer University and a University Certificate in Management Foundations from Athabasca University. She’s as passionate about business and finance as she is about the great Canadian outdoors, organic Sumatra coffee and music. See full bio
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