Gold prices hit record high: ASX Gold Stocks & ETFs

On Thursday, gold prices set a new record. With spot gold prices jumping more than 0.4% to a record high of $2,161.19 an ounce, while gold futures expiring in April hit a peak of $2,168.10 an ounce.

But why the rise in gold prices?

Broadly, gold is benefitting from optimism about U.S. monetary policy and investors’ hopes for lower interest rates.

On Wednesday, Federal Reserve Chair Jerome Powell said that interest rates could be cut at some point in the year. Typically, gold prices rise as interest rates fall, which is a development that could happen sooner than some analysts projected.

If you are interested in joining the gold train, here are some ASX Gold Stocks & ETFs you could start trading:

ASX Gold Stocks

$Northern Star Resources Ltd (NST.AU)$

$Newmont Corp (NEM.AU)$

$Evolution Mining Ltd (EVN.AU)$

$Perseus Mining Ltd (PRU.AU)$

$De Grey Mining Ltd (DEG.AU)$

ASX Gold ETFs

$Global X Metal Securities Australia (GOLD.AU)$

$Perth Mint Gold (PMGOLD.AU)$

$BetaShares Gold Bullion ETF Ccy Hedged (QAU.AU)$

$VanEck Gold Bullion ETF (NUGG.AU)$