Gold Is on an Upswing: Which Precious Metal Stocks Are a Buy?

London (June 17)  Amid the backdrop of economic uncertainty, gold is finally starting to catch a bid. At $US 1,356.65 an ounce, the price of gold has hit yearly highs. The precious metal has made most of its gains over the past couple of months where it has rebounded from 2019 lows.

How high can it go? Recent estimates point to an 80% chance of a rate cut south of the border. In fact, markets are pricing in three by the end of year, a bullish sign for gold prices. On Wednesday, billionaire investor Paul Tudor Jones created plenty of buzz when he indicated gold can push to $1,700 “rather quickly” once it breaches the $1,400 mark.

EuroNews