Gold mining stocks have experienced stellar price action over the past year, mainly due to investors being increasingly interested in alternative assets due to, in many cases, their inherent status as safe-haven assets. Gold is up 25.1% year-to-date at $3,339 per ounce.
Central banks worldwide have continued to buy gold and reduce their exposure to the U.S. dollar as the fiat currency continues to decline in value. The level of gold buying has slowed down, but all signs point to central banks remaining net buyers of gold for years to come.
This could push gold prices even higher compared to where they are now, especially if the Federal Reserve starts cutting interest rates again this year. As in investor, one of the best places to put your money to gain exposure to higher gold prices is gold mining stocks. The following are three companies that 24/7 Wall St. looked into for your consideration.
This post originally appeared at 24/7 Wall St.