After learning that 3 million more Americans filed unemployment claims last week, investors raced to the gold market -- one of the most sought-after safe havens for investments. The latest indication of the devastation on the economy wrought by the COVID-19 outbreak led to the price of gold surpassing $1,740 per ounce -- a level not seen since November 2012.
With the commodity trading at a multi-year high, some investors may believe that it's too late to add gold stocks to their portfolios; however, there are plenty of prognosticators predicting that the yellow stuff will continue to rise, as the COVID-19 outbreak continues with no end in sight. Therefore, investors interested in the metal would be well-served to consider several compelling options right now: Agnico Eagle Mines (NYSE: AEM), Newmont Corporation (NYSE: NEM), and Royal Gold (NASDAQ: RGLD).
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