Investors have flocked to gold this year – not because markets are falling apart, but because cracks still linger beneath the surface of the global rally. Equities may be soaring to record highs on hopes of rate cuts and solid earnings, yet gold’s momentum tells a different story.
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Mounting fiscal deficits, simmering geopolitical risks, and doubts about long-term currency stability have rekindled demand for the metal. With central banks hoarding bullion and investors looking to diversify portfolios heavy with risk assets, gold has re-emerged as a trusted hedge against potential policy missteps and future turbulence.
That backdrop hasn’t gone unnoticed on Wall Street. At J.P. Morgan, Natasha Kaneva, Head of Global Commodities Strategy, remains firmly bullish on the precious metal, calling gold the bank’s “highest conviction long for the year.” The strategist expects the ongoing shift toward a Fed rate-cutting cycle to provide further upside, projecting prices to climb from $4,131 per ounce today to $5,055 by the fourth quarter of 2026.
But you don’t actually need to hold gold to participate in this rally. Patrick Jones, J.P. Morgan’s lead analyst for gold stocks, argues that another way to ride the wave is through miners themselves. He’s particularly upbeat on two gold mining stocks that he believes could deliver gains of 50% or more.
Are other analysts in agreement? We’ve dived into the TipRanks database to find out.
AngloGold Ashanti (AU)
The first gold miner that we’ll look at here is AngloGold Ashanti, a company that was formed in 2004 through the merger of the Ashanti Goldfields Corporation with AngloGold. In the two decades since then, the company has built itself into one of the world’s major gold producers – and perennial member of the top ten gold firms by numerous measures: #8 by market cap ($34.6 billion), #7 by revenue ($7.64 billion…
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