Expert Insight Gold is up 60% over the past twelve months, but the bigger story isn't the rally. It's the repricing. With U.S. debt closing in on $40 trillion and central banks hoarding gold at record pace, "overbought" stops meaning what it used to when the alternative is a currency backed by a government adding $50 billion in debt every week.
Four investments capture that thesis at different risk profiles. Different entries, similar exit ramps. Award-winning journalist Paul Dykewicz shines a light on these investments.
David Cross
Managing Editor
Precious Metals Insights | | | Four Gold Investments Worth Weighing for Selective Buying Image source: David Cross/AI By Paul Paul Dykewicz, editorial director of Eagle Financial Publications
Four gold investments worth weighing for selective buying strategically offer a broad-based gold exchange-traded fund (ETF), two of the industry's biggest stocks and a smaller one that is on the rise:
- GLD for clean spot exposure
- Newmont (NEM) for the world's largest producer, still trading below spot
- Kinross (KGC) for best-in-class margins and a 33% dividend increase since Q3 2025
- Coeur Mining (CDE) for the higher-upside play on a pending acquisition expected to add $2 billion in free cash flow.
Among the four gold investments to buy, the ETF offers exposure to many gold stocks, the two industry giants pay dividends, and the third stock gives exposure to a gold and silver mining company currently completing an acquisition. But BofA Global Research recently wrote that going long in gold seems to be a "crowded trade," according to its recent Global Fund Manager Survey.
The strategy of going long and seeking to profit from a rise in the gold price during turbulent times is no secret. The BofA Global Fund Manager survey found gold to be the #1 "most crowded trade in March," according to 35% of its respondents, along with the same percentage saying likewise about going long in global semiconductors. And 38% of the survey respondents called gold overvalued in March, compared to 31% in February, BofA reported.
The bearish sentiment occurred amid military action in Iran, private credit concerns and "frothy bull" sentiment in recent months, BofA noted. As a result, growth optimism weakened and cash holdings climbed to 4.2%, the investment firm added.
As of Wednesday afternoon, March 18, gold futures had dipped 2.33% for the day, 5.17% for the past five days and 2.38% for the last month. The pullback followed gains of 13.00% so far this year, 33.00% for the past six months and 60.90% for the last year.
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| | | Four Gold Investments Worth Weighing: GLD Chart source: StockCharts.com Gold's recent performance is reflected by SPDR Gold Shares (NYSE: GLD), the largest physically backed gold ETF in the world. The fund is designed to track the price of gold and has become a common benchmark for investors seeking exposure to the precious metal.
As the chart shows, gold has followed a generally positive trajectory for the past year, then climbed faster in late 2025 and early 2026. Although it has experienced periodic pullbacks and consolidation, including recent weeks, the overall trend remains up, with prices well above where they stood 12 months ago. However, the magnitude of gold's advance has been more moderate compared with silver's sharp rally during the same period. | | | SPONSORED CONTENT Gold Just Became an Income Investment For decades, income investors faced an impossible choice: own gold for safety or chase yield in stocks.
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| | | Four Gold Investments Worth Weighing: NEM Chart source: StockCharts.com For investors who may feel that they are too late to join a modern-day gold rush, one opportunity is to invest in large, dividend-paying gold mining stocks. That way, even if the share prices dip, investors receive dividend payouts for staying patient. Citi Research recently offered a positive report for the outlook of Denver-based Newmont Mining Corporation (NYSE: NEM), a major gold producer with stock performance usually linked to gold prices and trends. Newmont Mining, incorporated 105 years ago in 1921, is the world's largest gold mining corporation, with operations in the United States, Canada, Mexico, the Dominican Republic, Australia, Ghana, Argentina, Peru and Suriname.
Analysts at Citi Research recently updated their model for Newmont Mining's fourth-quarter 2025 results, calculating the stock trading at 7x earnings before interest, taxes, depreciation and amortization (EBITDA), and 8% free cash flow (FCF) on spot gold estimated at $5,250 per ounce, and 8x EBITDA and 7% FCF on Citi 2026E gold ($4,600/oz).
"NEM is still pricing well below spot, in our view," Citi Research wrote. "We believe NEM remains a strong equity vehicle for generic gold exposure, with diversified operations mostly in Tier 1 jurisdictions, achievable 2026 guidance and likely to return a lot of capital through the current cycle." An unanswered question remains the future of NEM, since a possible combination of the company with another gold mining operation could be strategically desirable, but would require some middle-ground on valuation, Citi Research wrote. The investment firm recently raised its price target for NEM to $150 per share, up from $118 per share for its NYSE listing.
Four Gold Investments Worth Weighing: KGC Chart source: StockCharts.com Toronto-based Kinross Gold Corporation (NYSE: KGC), founded in 1993, is a global, senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. The company announced on Feb. 18 that its board of directors approved a 14% increase to its longstanding dividend, equaling $0.16 per share on an annualized basis. That boost is in addition to the dividend hike announced in November 2025, producing a total increase of 33% since third-quarter 2025.
Kinross Gold, a current recommendation in the Forecasts & Strategies investment newsletter, rose 218.11% since its subscribers were advised to buy it on October 14, 2024. "Kinross Gold (KGC) is my preferred way to own the upside in gold and precious metals," said Jim Woods, who heads Forecasts & Strategies. "The mining firm generates strong cash flow and high margins via its core assets, including the Tasiast and Paracatu mines. This high cash flow and margin equation is why some on Wall Street, including me, call Kinross a 'high-margin, cash machine.'" Income investors should appreciate that the Kinross Gold board of directors approved the company's quarterly dividend for fourth-quarter 2025 of $0.04 per common share payable on March 26, 2026, to shareholders of record at the close of business on March 11, 2026.
For Canadian shareholders, the payment is an "eligible dividend" for their domestic income taxes, while dividends paid to shareholders outside Canada will be subject to Canadian non-resident withholding taxes.
As a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada, Kinross Gold is focused on providing value through mining, "disciplined growth" and balance sheet strength, according to its management. Kinross Gold shares also are listed on the Toronto Stock Exchange with the ticker K, aside from its New York Stock Exchange listing under KGC.
KGC was a recommendation in TNT Trader's portfolio from April 28 to August 11, 2020, producing a 29.68% gain when it was sold. Woods recommends both stocks and options as the leader of TNT Trader.
Paul Dykewicz meets with Jim Woods, head of Tactical Traderr and Forecasts & Strategies.
Four Gold Investments Worth Weighing: Perry's Periscope Bryan Perry heads Breakout Blue Chip Trader and Cash Machine.
Another fan of Kinross Gold is Bryan Perry, who is recommending the stock in his Breakout Blue Chip Trader advisory service that recommends stocks and options. Perry also leads the Cash Machine investment newsletter that averages a 10%-plus average annualized dividend yield for its 28 positions, including a gold exchange-traded fund (ETF) that has soared 162.74% since its recommendation on November 12, 2024.
"The highly divisive narrative surrounding Iran, surging energy prices that threaten to re-ignite inflation and concerns surrounding private credit dominate the investing landscape, where some further progress to end the war is sorely needed with Iran's nuclear weapons ambitions eliminated entirely," Perry wrote in his March 17 issue of Breakout Blue Chip Trader.
For decades, the intellectual elite of high finance dismissed gold as a "non-productive hunk of yellow metal" that pays no dividend and serves no purpose in a digitized, high-speed economy, Perry said. But in 2026, the narrative is starting to wear thin, he added. "As the veneer of king dollar is showing gapping cracks due to a $38+ trillion U.S. federal deficit that is soaring like a firehose with no cutoff value, gold isn't just a hedge, it is becoming the only remaining exit ramp from a global experiment in fiscal recklessness," Perry apprised.
Four Gold Investments Worth Weighing: CEO's Optimism Paul Rollinson, Kinross Gold's chief executive officer, issued an upbeat statement to accompany the company's 2025 fourth-quarter and year-end results, saying 2025 marked another "excellent year" for his company.
"We met our guidance once again, delivered robust margins and generated record free cash flow of $2.5 billion, an 85% increase year over year," Rollinson commented. "We returned approximately $1.5 billion to debt and equity holders and achieved an end-of-year net cash position of $1 billion, further strengthening our balance sheet. These results underscore the consistency of our operating portfolio and our rigorous focus on cost discipline.
"We recently announced that we are proceeding with three U.S.-based projects, Phase X, Curlew and Redbird, which together are expected to contribute over $4 billion of net asset value and extend mine lives. In addition to these U.S. projects, we will have meaningful catalysts in the coming year at both of our world class development projects -- Great Bear and Lobo-Marte." Kinross Gold is carrying "strong momentum" into 2026 and forecasting another strong year of production of roughly 2.0 million gold equivalent ounces, Rollinson continued. The company's focus will be on margins and cash flow, while holding the line on controllable costs and maintaining capital discipline.
"We are planning to continue with our capital allocation strategy by reinvesting in our business, further strengthening our balance sheet and returning capital to our shareholders," Rollinson stated. "This includes investing an additional $350 million in our business and targeting 40% of free cash flow to return of capital through both share buybacks and dividends."
Four Gold Investments Worth Weighing: CDE Chart source: StockCharts.com
Michelle Connell leads Portia Capital Management.
Chicago-based Coeur Mining, Inc. (NYSE: CDE) is a precious metals mining company that operates five mines in North America. In the wake of a 25% pull back after the Iran conflict began Feb. 18, CDE "looks compelling," said Michelle Connell, who heads Dallas-based Portia Capital Management.
"As gold and gold miners benefited last year, so did CDE," Connell counseled. "During 2025, the company's revenue more than doubled. Coeur Mining's free cash flow came in strong at $1.10 a share. This represents a 5% free cash flow yield."
Plus, Coeur Mining has achieved "impressive growth" of revenue, cash flow, and is seeking to improve its performance with the acquisition of Toronto-based New Gold Inc. (NYSEAMERICAN: NGD), Connell continued. The purchase of New Gold, approved by CDE's board of directors, is expected to close by June 30 at the end of the second quarter. New Gold Inc. is an intermediate Canadian gold, silver and copper mining company operating the Rainy River and New Afton mines.
"If this integration progress stays on track, New Gold will add $2 billion in free cash flow for CDE's 2026 results," Connell told me. "However, it's important to keep in mind that integration of two cultures could be slower than expected. All acquisitions involve this type of risk."
CDE currently trades at its 50-day support level, Connell said. If its share price were to fall further, the 200-day moving average could take the stock down to $16 a share, she added. "Many industry analysts remain enamored with the company," Connell continued. "Five sell-side analysts have upgraded their earnings-per-share (EPS) targets for CDE."
As the United States keeps adding $50 billion to its debt every week, with a current level of almost $40 trillion, Americans should not only expect higher interest rates and inflation, but also government spending cuts and increased federal taxes, Connell warned. As the currency of central banks, gold will continue to benefit from a lack of fiscal discipline, she concluded.
Four Gold Investments Worth Weighing: Geopolitical Risk Rich Checkan is the COO of Asset Strategies International.
Checkan, a former U.S. Army officer, expressed the view that gold and silver can be grouped together to combine their respective benefits. Gold provides a defensive holding during natural disasters, war time and other calamities, while silver offers greater growth potential. Those who allocate to both precious metals can gain the advantages of each.
Gold can serve as a safe haven for investors seeking to avoid the worst of market drops during times of chaos. However, the precious yellow metal has pulled back a bit since military action began on Feb. 28 between Israel and the United States on one side and Iran on the other.
Reports that gold also has become overbought may have dampened some of the investor interest. While both gold and silver are commonly included under the umbrella of precious metals, their prices and underlying roles in the economy are fundamentally different. The price per ounce of silver as of Monday, March 18, traded at $76.22-$80.90, far less expensive than gold's range of $4,861-$5,020 per ounce on the same day.
Even though buying silver is much more affordable than purchasing the same amount of the precious yellow metal, gold plays a vital defensive role in markets. Gold is valued less for productivity and industrial uses, and more for asset preservation and as a strategic diversifier in portfolios.
Precious metals offer investors multiple pathways for potential returns, such as through stocks, funds or purchasing the metal outright. For example, Rich Checkan, president and chief operating officer of Asset Strategies International (ASI), of Rockville, Maryland, offers physical bars of silver to purchase as a tangible means of exposure for investors.
P.S. Note from the editor: Normally, income investors have faced an impossible choice: they can own gold for safety and stability, but get zero income. Or they can chase yield in stocks and bonds, and accept the volatility. Damned if they do, damned if they don't. That dilema just ended with a groundbreaking new gold investment Bryan Perry shared that currently pays out 11.43% annually (and it pays out every month!)
Paul Dykewicz is an accomplished, award-winning journalist who has written for Dow Jones, the Wall Street Journal, Investor's Business Daily, USA Today, the Journal of Commerce, Seeking Alpha, GuruFocus and other publications and websites.
Paul is the editor of StockInvestor.com and DividendInvestor.com, a writer for both websites and a columnist. He further is the editorial director of Eagle Financial Publications in Washington, D.C., where he edits monthly investment newsletters, time-sensitive trading alerts, free e-letters and other investment reports. Paul previously served as business editor of Baltimore's Daily Record newspaper. Paul also is the author of an inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain," with a foreword by former national championship-winning football coach Lou Holtz.
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