Gold Was Red Hot in the First Half of 2024; Here Are 3 Gold Stocks to Buy and Hold for the Long Run

After rising 14.6% in 2023, gold prices continued to soar through the first half of 2024 as gold bugs drove the price of the yellow metal up another 12.2%. And some don't believe that the price will be ebbing anytime soon. J.P. Morgan, for example, forecasts the price of gold will average $2,500 per ounce in the fourth quarter of 2024.But that's not to say you should start bulking up on bullion. Instead, investors should consider investments in dividend-paying gold companies that are industry leaders -- stocks like Agnico Eagle Mines (NYSE: AEM), Franco-Nevada (NYSE: FNV), and Newmont (NYSE: NEM).Over its 67-year history, Agnico Eagle has emerged as one of the largest gold producers available to investors. Operating assets in Canada and Mexico as well as Finland and Australia, Agnico Eagle has grown considerably over the past 20 years thanks to organic growth as well as through acquisitions such as Kirkland Lake in 2022 and Canadian Malartic in 2023. In 2005, for example, Agnico Eagle produced 240,000 ounces of gold, and in 2024, the company projects gold production between 3.35 million ounces and 3.55 million ounces. And with 54 million gold ounces in proven and probable reserves, Agnico Eagle will likely enjoy ample gold production in the years to come.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool