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Stan WongiShares S&P/TSX Global Gold Index ETFXGD.TODON'T BUYJan 11, 2024

Basket of gold miners. Underperformed TSX and spot gold since early 2020. If looking to hedge against inflation or geopolitical events, look at gold bullion instead. With mining companies, so much can go wrong.

Stan Wong

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$16.77

Stock price when the opinion was issued

$50.67

As of Jun 19, 2026. Market Open.

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BUY

Large-cap gold companies, so it skews to a smaller group. Gold trying to break through all-time highs, and the companies are participating alongside. Gold exposure is very good. Gold stocks combine beta of the gold plus the stock market. Precious metal provides more of a safe haven.

Pair it with a bit of gold exposure, so you have something else in your portfolio if there's a market calamity. Gold gives your portfolio diversification.

BUY

While GLCC is perfect short-term play for income needs, for the long term, he'd prefer a non-covered-call strategy like XGD. Gives you growth and builds on your capital.

PAST TOP PICK

(A Top Pick Aug 01/23, Down 2%)

Gold stocks haven't kept up with the price of gold. He expects they will rise from the current $17 here to about $21, at which he will sell. He is an active trader. He will wait. He has faith.

TOP PICK

He likes gold and commodities. The US dollar is near support but won't return to strength. Therefore, gold should do well. (They have a negative correlation.) The XGD could return to $20. Also, macro seasonality in mid-August to September could help.

PAST TOP PICK

(A Top Pick May 21/20, Down 19%)

At the time it was a safe haven during the pandemic. A short-duration trade. Once the markets took off, he moved into equities.

COMMENT

Buy gold miners or bullion? It holds miners and trades on the TSX. Caveat: YTD, gold has underperformed consider high inflation. Historically, gold performs well when there's war or inflation. We have both, but gold is not performing. Miners go up higher when gold prices rise, though falls lower when prices decline.

PAST TOP PICK

(A Top Pick Jan 10/22, Down 14%) Still likes it. Will weather better than most if there's a major downturn.

TOP PICK

Down about $2 from 2 months ago so good entry point (on sale). Gold does well in times of turmoil.

BUY ON WEAKNESS

Has been a long term bull on gold for the last few years. Below 1200 is a great risk-reward trade. Gold in the next few years should get into the 2300-2500 range. Thinks that there is a dynamic where there is so much debt in the world and central banks willing to accept inflation. Real rates will be negative and this will be bullish for gold. However, there are cryptos that are pulling money from gold, which is a dynamic that has not existed before. Trimmed a little into the strength. Trading it now.

HOLD

Gold stocks have been incredibly cheap for a few years. Still thinks there are a couple more years in the gold sector. Bitcoin has taken some of the money that would have gone into gold. Rising yield is also a headwind. The reason you want to own gold has not changed. Rising inflation pressure relative to nominal yield is a strong story for gold. Volatility is to be expected but there is more upside to come.

HOLD

It has been a frustration couple months since the fundamentals are strong for gold to rise. There is a lot of money that would have gone to gold that is going to Bitcoin. There is an alternative flight to security. However, in the long term, the thesis still holds for gold.

BUY

Still bullish on outlook on precious metals. Central banks will have to monetize debt to keep the party going. We will still see growth but at the expense of the balance sheet. Monetizing debt will be a theme for the foreseeable future. Silver is an important compartment for electrification so it could see a good play. Gold will be important for the devaluation of fiat currency.

TOP PICK

He likes gold and he holds bullion. XGD is pricey, though. The underlying stocks here are Newmont, Barrick, Agnico Eagle or Kirkland Lake. You can own the stocks or pay a MER and own them all here.

BUY

Depending on the vectors you want exposure to, these are his favourite ways to play the gold sector. He believes the world will be in a low interest rate environment for years to come. Gold will outperform.

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Stan WongiShares S&P/TSX Global Gold Index ETFXGD.TODON'T BUYJan 11, 2024

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