In this article, we explore the 10 Best Stocks to Buy Amid Gold Rally.
Gold prices have surged to record highs in 2025. According to the World Gold Council, the precious metal notched 26 new all-time highs (ATHs) in the first half of the year, following 40 ATHs in 2024. Gold also outperformed eight major asset classes, including US equities, global treasuries (excluding US), and broad commodities, posting a 26% year-to-date return in dollar terms as of June 30.
Behind the exhilarating rally are three key factors: a weakening US dollar, elevated geopolitical risks, and stable yields amid expectations of rate cuts. These factors have fueled stronger demand for physical gold. Average daily gold trading volumes reached $329 billion in H1 2025, the highest on record, according to the World Gold Council.
Wall Street sees the trend going only up. Goldman Sachs forecasts that gold could reach $3,700 per troy ounce by year-end, citing sustained central bank purchases as a primary driver. In a recent note, the firm added that ETF investors are likely to boost holdings as interest rate cuts approach and recession fears build. “In the event of a recession, we forecast that gold could rise to as much as $3,880 a troy ounce,” the research note said.
Against this backdrop, gold-related equities, particularly those in mining, streaming, and exploration, offer a compelling upside. This article highlights 10 stocks that stand to benefit from the rally.
A close-up of the company’s gold bars and certificates of authenticity, lit up by a spotlight.
Our Methodology
We used the Finviz stock screener to identify companies in the gold industry, filtering for those with a year-to-date returns of at least 20%. From this initial pool, we shortlisted stocks that also showed notable hedge fund interest, based on Q1 2025 holdings data from Insider Monkey’s database. The final list is ranked in ascending order by year-to-date returns (as of July 29).
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Best Stocks to Buy Amid Gold Rally
10. Centerra Gold Inc. (NYSE:CGAU)
Year-To-Date Returns: 24.96%
Number of Hedge Fund Holders: 17
Centerra Gold Inc. (NYSE:CGAU) is one of the best stocks to buy amid gold rally. On July 28, Midland Exploration Inc., a mining company based in Quebec, announced it had raised $6.1 million by selling shares privately. Centerra Gold bought all the shares, becoming a key partner in the company. As a result, Centerra now owns about 9.9% of Midland’s total common shares.
The placement consisted of $5.06 million from the sale of 10,650,000 flow-through shares, priced at $0.475 each, and $1.05 million from 3,181,819 common shares, priced at $0.33 per share. According to Midland, the funds raised will be applied to Canadian exploration expenses aimed at advancing its wholly owned gold projects in the Québec region.
Centerra Gold Inc. (NYSE:CGAU) is a Canadian mining company. It acquires, explores, develops, and operates gold and copper properties, primarily through its Mount Milligan gold-copper mine in British Columbia, Canada, and the Öksüt gold mine in Türkiye. Its main products are gold bullion and copper concentrate, extracted from open-pit mining operations.
9. Franco-Nevada Corporation (NYSE:FNV)
Year-To-Date Returns: 38.06%
Number of Hedge Fund Holders: 36
Franco-Nevada Corporation (NYSE:FNV) is one of the best stocks to buy amid gold rally. On July 23, Franco-Nevada Corporation, through its wholly-owned subsidiary, acquired a 1.0% net smelter return (NSR) royalty on AngloGold Ashanti’s Arthur Gold Project, formerly the Expanded Silicon Project. The royalty was purchased from Altius Minerals Corporation for $250 million in cash, with an additional $25 million payable pending arbitration outcomes.
Franco-Nevada’s new royalty covers a major part of the Merlin and Silicon gold deposits in Nevada and comes with no reductions or buyout options. The Arthur Gold Project has grown significantly, with gold resources rising 20% in a year—now totaling 3.4 million ounces of indicated and 12.9 million ounces of inferred resources. As of the end of 2024, 430 kilometers of drilling had been completed, including 132 kilometers just that year.
AngloGold, a top-tier mining company, plans to finish an early study by late 2025 or early 2026 for a large gold operation. Franco-Nevada paid using cash on hand and borrowed $175 million from its $1 billion credit line. The deal qualifies for tax benefits. If a legal decision supports Altius’ wider royalty claims, Franco-Nevada will pay an extra $25 million. Altius still holds a smaller 0.5% royalty and Franco-Nevada has the right to buy it first if it’s sold.
Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and streaming company. It manages a diversified portfolio of cash-flow producing assets across precious metals, energy, and other commodities. The company’s core business involves acquiring royalties and metal streams from mining operations, providing investors with exposure to gold prices and exploration upside while avoiding direct operational risks.
