The top five holdings in this gold fund are: Newmont Goldcorp Corp (NEM, 11.27% of assets); Barrick Gold Corp (ABX.TO, 10.69%); Franco-Nevada Corp (FNV.TO, 6.60%); Newcrest Mining Ltd (NCM.AX, 5.73%); and Agnico Eagle Mines Ltd (AEM.TO, 5.35%).
VanEck Vectors Gold Miners ETF (GDX)
From The Personal Capitalist
Even with the big move in gold this year (up some 18%) to over $1,500 per ounce—its biggest rally since 2010—we feel it’s still a good time to consider adding gold to a portfolio.
Several market gurus are recommending looking at gold. Mark Mobius of Templeton fame, is bullish, feeling the price of gold could double in 10 years. Also, Blackstone’s Byron Wein urged savvy investors to watch gold in 2020.
We agree, looking at fundamentals of the miners and recognizing the present worldwide geopolitics and economic uncertainty. We at PC feel gold should be considered a safe store of value. Every portfolio should contain at least 10% gold.
There is good buyer demand coming from China, and India with the biggest buying coming from central banks since the 1970s.
GDX is an ETF containing important gold miners sells and is currently trading up from its 52 week low of $20.14.
Sean Christian, The Personal Capitalist, 9524 East 81st Street, Suite B #1715, Tulsa, OK 74133, December 28, 2019