$2,000 Gold: The Top 3 ETFs Investors are Accumulating

The price of gold is exploding.

At the moment, the metal is up to $1,840 after gaining $23 on the day.

From here, we could see $2,000, says Goldman Sachs.  Meanwhile, analysts at Citi say gold, “is expected to climb to an all-time high in the next six-to-nine months, and there’s a 30% probability it’ll top $2,000 an ounce in the next three-to-five months.”

Bank of America believes we could see gold run to $3,000.

In addition, according to Forbes, “If another stimulus package becomes a reality, a highly likely scenario, it is pretty much a given that the equity markets will rise. However, this will strengthen the argument that the current stock market may not last because stimulus measures power it. Under those circumstances, we may see even more interest in gold prices.”

With gold only likely to push higher on fear, investors are pushing into related ETFs including:

SPDR Gold Trust (GLD)

Even after running from a March low of $140 to $173, there may be much further upside for the GLD ETF, which invests directly in physical gold.  GLD could easily run to new record highs on global uncertainty, global stimulus packages, and economic fear.

Global X Gold Explorers ETF (GOEX)

Since bottoming out at $12.54 in March, the GOEX ETF has exploded to nearly $37, and could also see further upside.  Some of its top holdings include Hecla Mining, B2Gold Corporation, Kirkland Lake Gold, and SSR Mining Inc. 

VanEck Vectors Gold Miners ETF (GDX)

The GDX ETF popped from a low of $16.18 to $41.07 in recent months, and could also run higher.  This one seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE Arca Gold Miners Index (GDMNTR), as noted by VanEck.  Some of its top holdings include Newmont Corp., Barrick Gold Corp., Franco-Nevada Corp., and Kirkland Lake Gold.

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