Investors Can Still Take Part in the Anticipated Gold Rally – Analyst

Gold is expected to carve fresh highs this year on the back of the inflation uptick, “Fat Prophets” analyst told CNBC.

• Fat Prophets Resources Analyst David Lennox is betting on gold as a surge in prices usually comes with higher inflation readings.
• Should prices surge, Lennox urged investors to look into gold exchange-traded funds to score one-on-one price movement without the management fees.
• For long-term investors, investors should pour their funds into gold miners as they have growth capacity, and possible dividend payouts.
• Lennox also scored gold as a safe investment amid market uncertainty hounding the dollar, providing a good tailwind for gold.
• Gold is trading at $1,911 an ounce, up 0.66% year-to-date after dropping to as low as %1,700 per ounce in March.
• The United States Federal Reserve last year kept interest rates low, in efforts to boost economic recovery and keep financial markets afloat after the COVID-19 pandemic.