Why gold stocks and ETFs are poised for growth with bets rising for gold to hit $2,500, possibly $3,000

Why is gold buying increasing? Well, China's central bank, the PBOC China is continuing to buy more gold, for the 17th month, while other central banks have been buying gold as well as a store of wealth, amid rising geopolitical tension, while also buying the commodity as it traditionally does well when the US Fed cut rates. Plus, Gold is also benefiting from the US dollar continuing to fall from its March high (gold and the USD have an inverse relationship).

Gold stocks to watch that are deemed undervalued by the market (consensus) include Newmont ( $Newmont Corp (NEM.AU)$ and $Newmont (NEM.US)$ ) which is the world;s biggest producer of gold, as well as Barrick Gold ( $Barrick Gold (GOLD.US)$ ) which is the second biggest gold producer. And thirdly watch ASX gold stocks such De Gray Mining ( $De Grey Mining Ltd (DEG.AU)$ ) is which 40% owned by institutional fund managers, and is also deemed undervalued with a consensus price target of $1.77 (which implies 33% upside).

See my prior notes on gold and gold miners, March 11. And March 25

Prior to that, I also spoke about why I am bullish on gold on Ausbiz TV on Feb 14 2024.