Gold futures (GCG24) have pulled back in recent sessions, with the safe-haven asset moving inversely to U.S. stocks in response to well-received earnings and economic data. The dip could present a buying opportunity, as the recently conquered $2,000 level remains underfoot, and price forecasts are generally bullish.
Analysts at UBS are now looking for gold to hit $2,250 an ounce by the end of 2024, while J.P. Morgan predicts “a breakout rally commencing around mid-2024,” with prices ultimately peaking around $2,300 next year. For investors anticipating higher prices for the popular currency hedge, here's a closer look at three highly rated gold stocks that also offer best-in-class dividend yields.
