Image source: Getty Images
Gold is a precious metal that is viewed as a hedge against inflation and a store of value. It has enabled investors to derive inflation-beating returns over several decades, providing them with diversification and reducing portfolio risk.
Gold is an alternative asset class with an inverse relationship with interest rates and equities. Given the U.S. Federal Reserve is likely to cut interest rates three times next year, gold prices should move higher in the near term. Additionally, gold thrives amid periods of volatility, making it an attractive option for those expecting the economy to enter a recession in 2024.
With these factors in mind, here are two gold mining stocks you can consider buying right now.
Agnico Eagle Mines stock
Valued at $36 billion by market cap, Agnico Eagle (TSX:AEM) is among the top gold mining companies globally. Agnico Eagle aims to maintain a high-quality project pipeline,…
