This weekend's theme will be on safe assets. Today, it's all about gold ...
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TODAY'S FEATURED STOCK STORY Many investors are turning to gold stocks to stabilize their portfolios and mitigate the devastating effects of inflation and global turmoil. Gold and stocks tied to it have long been considered safe havens because they often retain value or go up during times of market instability. In this sense, gold stocks can act as a hedge against volatility and the depreciation other assets might be experiencing.
Gold-related investments can enhance diversification by adding another asset class to a portfolio. Gold is particularly useful in this area because it has a fairly low correlation with stocks and other more traditional investments. In short, adding gold stocks to a portfolio can help reduce overall risk and add potential for capital appreciation over time. Here's a list of the best gold stocks, along with one exchange-traded fund (ETF), to buy and hold today:
Eldorado Gold Corp. (ticker: EGO). EGO is a $3 billion gold mining and exploration company with several high-quality assets, primarily in Canada, Greece, Romania and Turkey. In addition to the mineral rights it owns in highly productive mines, the company's strength is in its experienced and knowledgeable management team. It has managed to combine a high level of technical expertise with an uncommon dedication to environmentally responsible gold mining, all while growing profits over the long run.
Harmony Gold Mining Co. Ltd. (HMY). With a healthy market cap of $5.6 billion, HMY is an established leader in the exploration, mining and production of gold. Additionally, the company has a significant and increasing footprint in the copper market. It bills itself as one of the first sustainable mining companies in the gold and copper industries. The company's principal mine, the Harmony Mine, is located in South Africa and has been a significant contributor to that country's gold production for many years.
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STOCKMARKET CAPITALIZATIONYEAR-TO-DATE PERFORMANCE AS OF MAY 8 Eldorado Gold Corp. (ticker: EGO)$3.1 billion16.3% Harmony Gold Mining Co. Ltd. (HMY)$5.6 billion45.4% Barrick Gold Corp. (GOLD)$29.6 billion-7% Gold Fields Ltd. (GFI)$14.6 billion12.6% SPDR Gold Shares (GLD)$61.6 billion*11.7% |
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