
Inflation is constantly among the major concerns in the U.S. economy, weakening the consumers' spending power. Also, current geopolitical tensions and upcoming elections are spurring further turmoil in the market. Amid this, investors generally incline more towards resilient asset classes like gold to hedge against inflation and market downtrends.
Against this backdrop, investors could consider buying fundamentally sound gold mining stocks Agnico Eagle Mines Limited (AEM), Barrick Gold Corporation (GOLD), and Kinross Gold Corporation (KGC) as an inflation hedge in 2024.