The Best ASX Gold Stocks
to buy Now In
March 2024

Check out our Industry Experts’ report and
analysis on ASX Gold Stocks

The Best ASX Gold Stocks
to buy Now In
March 2024

Check out our Industry Experts’ report and analysis on ASX Gold Stocks

ASX Gold Stocks In 2024

In an environment of economic uncertainty, many investors seek refuge in gold and gold stocks (miners and explorers alike). The precious metal has long been considered a good investment and an inflation hedge, offering an alternative asset class during volatile times. It also has its industrial uses, including in jewellery, dentistry, medicine and even space exploration. Gold stocks are just one way to invest in gold - you can choose own physical gold, such as gold bullion, invest in gold ETFs or derivatives.

Gold stocks can be a better option than other ways to invest in gold for a number of reasons. In particular, many of them come with significant liquidity and upside potential no matter what the price of gold does. Shares can substantially re-rate if a company has good production figures, or if it is an explorer and stumbles across a major deposit. Some of the best performing companies in the last decade have been gold mining stocks like Ramelius (ASX:RMS) and Northern Star (ASX:NST). At the same time, company-specific factors mean gold stocks can be more risky than other gold investments.

Are Gold Stocks A Good Idea?

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Gold stocks offer investors exposure to the industry without the need to store or insure physical gold. Investors can participate in the potentially lucrative world of gold mining, where a single discovery can lead to substantial value creation.                                                                                

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The price of gold and the price of gold miners'' stocks has a reputation of providing a hedge against economic uncertainty and inflation. This is because historically, gold prices tend to rise when the economy is in distress, and, consequently, a rise in their stock prices.                                 

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The Australian Gold Market: Prospects and Risks

Australia is the world's 2nd largest gold miner after China and is home to some of the world's most prolific gold mines such as Cadia, the Kalgoorlie Super Pit, Ravenswood, Mt Magnet, Stalwell and Challenger.

ASX gold stocks offer both domestic and international investors the opportunity to invest in this rich and diverse market and directly be exposed to the production of gold from some of these mines (and others).

Gold tends to be safer than other commodities given that gold is perceived as an inflation hedge. We also note that many gold stocks on the ASX have exposure to Australia, where sovereign risk is generally lower.

However, investing in gold and gold stocks does come with risks. These include fluctuations in gold prices, operational issues, mining risks, and market volatility. Therefore, investors must align their investments with their risk tolerance and investment objectives.

Alternative Gold Investments

Beyond gold stocks, investors can explore other ways to invest in gold including ETFs, physical gold and futures contracts.

Gold ETFs are a great way to gain exposure to gold mining companies, without the risk of investing in any individual one company. ETFs such as the VanEck Gold Miners ETF invest in a portfolio of large, gold mining companies around the world.

Top 2 ASX Gold Stocks to buy

Northern Star Resources (ASX: NST)

Northern Star Resources has been a top performer among ASX gold stocks with its Kalgoorlie, Yandal and Pogo gold mines. In the last 15 years, it has grown from another microcap explorer to one of the ASX's biggest miners. In FY23, it produced 1.56m ounces of gold and generated $4.1bn in revenue as well as a $585m NPAT. In FY24, it is expecting to produce 1.6-1.75Moz.

Bellevue Gold (ASX:BGL)

Bellevue Gold (ASX:BGL) is about to commence production at its namesake gold project just 6 years after beginning exploration. It estimates that it has 1.34Moz in Reserves (derived from 6.8Mt @ 6.1g/t gold) and will have a 10-year mine life. This equates to an IRR of 68% and net free cash flow of $2.1bn over the life of the mine.

Top 2 ASX Gold Stocks to buy

Northern Star Resources (ASX: NST)

Northern Star Resources has been a top performer among ASX gold stocks with its Kalgoorlie, Yandal and Pogo gold mines. In the last 15 years, it has grown from another microcap explorer to one of the ASX's biggest miners. In FY23, it produced 1.56m ounces of gold and generated $4.1bn in revenue as well as a $585m NPAT. In FY24, it is expecting to produce 1.6-1.75Moz.

Bellevue Gold (ASX:BGL)

Bellevue Gold (ASX:BGL) is about to commence production at its namesake gold project just 6 years after beginning exploration. It estimates that it has 1.34Moz in Reserves (derived from 6.8Mt @ 6.1g/t gold) and will have a 10-year mine life. This equates to an IRR of 68% and net free cash flow of $2.1bn over the life of the mine.

Our Blogs On Gold Stocks

Evolution Mining’s Capital Shake Up and a Bold Copper Gambit

December 13, 2023

Evolution Mining (ASX: EVN), a prominеnt playеr in thе gold mining industry, rеcеntly made hеadlinеs with its significant dеclinе in…

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Rеd 5 Limitеd (ASX:RED) recently hit a 52-wееk high of 34 cеnts, indicating significant markеt momеntum. This growth occurrеd aftеr…

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