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Looking for lifeboats as financial markets sink? Here’s what I think might be one of the greatest FTSE 100 stocks to consider today.
A classic safe haven
While stock markets threaten to crash, gold prices continue to go from strength to strength. Retail demand for the yellow metal is at levels not seen since the Covid-19 crisis. And today, prices reached fresh peaks above $3,500 per ounce.
Astonishingly, gold has posted daily gains of $100 or more in three of the last eight days. This has pulled the share prices of precious metal producers like Fresnillo (LSE:FRES) through the roof.
This particular FTSE 100 miner has just burst through £10 per share for the first time since early 2021. I think it could continue surging.
Gold’s risen 44% over the past year, propelled by expectations of inflation-boosting interest rate cuts. Signs of growing geopolitical tension and the…
