Gold Still Has a Long Way to Run

by Dave Forest
Casey Research

When we came into 2020, mainstream stocks were flying: The S&P 500 was up 33% from the previous year, including reinvested dividends.

Gold was on the rise, too. But few investors were paying attention.

We all know what happened next.

[…] Since the corona-crash, large stocks have struggled. The S&P 500 is still below its February peak. But physical gold has recovered all its March losses and moved higher. Same with gold stocks – you can see in the chart above how the VanEck Vectors Gold Miners ETF (GDX), which holds a basket of major gold miners, is soaring.

True, the wider markets are also recovering. But recent resurgence in COVID-19 calls for caution on mainstream stocks. It also suggests gold could soar further on safe-haven demand.

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