3 Gold Stocks to Buy for June

[ETF Daily News]( June 15th, 2023 SPONSORED AD [You Have To See THIS!]( These 3 trading tools cost $1,277 ... but we're willing to give them to you for FREE. Decisions don't come easier than this. [Click here to check it out]( [3 Gold Stocks to Buy for June]( Amid ongoing economic uncertainty due to higher interest rates, still-elevated inflation, and growing recession concerns, investors are turning to gold to protect their portfolios and secure steady returns. The increased gold demand is reflected in its higher prices this year. While gold prices have fluctuated in the last few weeks, they have held near the $2,000 level. Given this backdrop, it could be wise to invest in fundamentally sound gold stocks Eldorado Gold Corporation ([EGO]( – [Get Rating]( Centamin plc ([CELTF]( – [Get Rating]( and New Gold Inc. ([NGD]( – [Get Rating]( which could offer enhanced stability and potential gains. Before digging deeper into the fundamentals of these stocks, let’s discuss why it is the opportune time to invest in gold stocks. The Federal Reserve has raised interest rates ten consecutive times since March 2022 to control multi-decade high inflation, bringing them to a range of 5-5.25%, the highest level since 2007. The Bureau of Labor Statistics reported that consumer prices cooled again in May to the lowest level since March 2021. The consumer price index (CPI) [grew 0.1% for the month]( bringing the annual rate down to 4% from 4.9% in April. But the picture for core inflation, excluding food and energy prices, wasn’t as optimistic as it increased 0.4% for the month and was still up 5.3% year-over-year, indicating that underlying price pressures remained strong. The Fed still hopes to cool the inflation rate to its goal of 2%. “The moderate slowing provides the Fed room to pause its rate hikes this week,” said Kathy Bostjancic, chief economist at Nationwide in New York. “However, if economic data continues to surprise to the upside and inflation remains sticky, the door is open for another rate hike in the coming months, as soon as July.” In recent months, gold prices have rallied amid interest rate hikes, high inflation, recent bank failures, and worries about… Continue reading at [STOCKNEWS.com]( Copyright © 2023 StockNews.com | All Rights Reserved [Unsubscribe]( [Privacy Policy]( [Terms & Conditions]( Magnifi Communities, 1 Penn Plaza, Suite 3910, New York, NY 10119