Gold prices are on the upswing this week, with the December futures contract (GCZ23) peaking at a two-month high above $2,000 an ounce this morning as investors increasingly seek out safe havens amid mounting geopolitical tensions and soaring bond yields. Frequently, gold prices and the performance of equity markets are inversely related, and the yellow metal can deliver outsized returns amid periods of economic recession.
Viewed as an alternative asset class, a store of value, and a hedge against inflation, gold can provide your investment portfolio with diversification. One way to gain exposure to gold is by investing in gold mining stocks. With this in mind, here are three high-yield gold mining stocks to consider as gold futures test their footing around the closely watched $2,000 level.
