Gold investments have become an increasingly attractive asset for those investors looking for protection from the risks of inflation and the sluggish global economy.
Purchasing physical gold can be an expensive proposition when considering the additional costs associated with the investment such as storage costs.
The best gold mining stocks, however, provide a streamlined alternative to profit from the strength of the gold market. These companies are mining the precious metal across the globe. Buying shares in these firms has produced terrific returns for astute investors.
Firms like Barrick Gold (ABX) or Yamana Gold (AUY) are some of the best gold mining company stocks. Newmont Mining rewards its shareholders with dividend payouts that are correlated to the price of gold. Yamana Gold has experienced growing revenue as the price of the precious metal has risen.
In addition, exchange-traded funds also provide access to the benefits of rising gold prices. Funds like the SPDR Gold Shares ETF (GLD) are easily purchased through a medley of brokers. This fund tracks the price moves in gold.
Investing in gold mining stocks is not only more affordable than buying physical gold; it provides a profitable way to benefit from the rise in gold prices while collecting dividends along the way.