Gold prices have extended their record-setting run this week, bolstered by heavy buying from global central banks. The precious metal is also benefiting from its safe-haven status against a backdrop of soaring government debt and escalating geopolitical tensions - and with a long-awaited interest rate cut from the Federal Reserve expected in September, the rate-sensitive commodity could be set for more upside.
As gold (GCZ24) grabs the spotlight, Canadian mining company Kinross Gold Corporation (KGC) is having a standout year, with shares skyrocketing nearly 50% in 2024 alone. Despite the impressive rally, analysts forecast double-digit EPS growth, with projections indicating that there is more room for this stock to soar.
