Gold hits record prices: which 3 stocks are benefiting?

In 2024, gold is experiencing extraordinary growth and its price has climbed to an all-time high. Investors are looking for safe havens in times of economic uncertainty, and gold is one of their main choices. What are the reasons for this sharp rise and how can investors profit from this trend?

The gold price has risen 33.5% in the past year, taking it to a new record high of $2,583.64 per ounce in September 2024. This sharp rise is the result of several factors, including falling inflation and expectations that the US Federal Reserve (Fed) will cut interest rates. Inflation is approaching the Fed's 2% target after a string of economic data suggesting slowing growth in the US economy. This is leading investors to look for safe ways to protect their investments from potential economic turmoil, and gold is often considered just such a safe haven.

Similar to gold, the price of silver has also been rising, increasing by more than 32% over the past year. Interestingly, the weakening US dollar…