Five Precious Metals Investments to Buy in Turbulent Times

02/18/2025

Five precious metals investments to buy in turbulent times are worth highlighting with gold in particular on the ascent.
The five precious metals investments with potential to profit are recommended by seasoned forecasters who monitor the market closely. Gold, in particular, has proven to be a traditional hedge against uncertainty in turbulent times.
Goldman Sachs (NYSE: GS) offered a Feb. 18 prediction that the current gold rally would continue amid President Trump’s calls for imposing tariffs, even as negotiating strategies. The investment firm raised its year-end price target for gold to $3,100 per ounce, up from $2,890. The yellow metal’s price traded just below $2,900 in the New York spot market on the day.
Another Wall Street forecaster, BofA Global Research, has been bullish on gold for the most of the past two years and first published its $3,000 per ounce price target in June 2024. So far, gold has rallied mostly on the back of exceptional purchases by the official sector, the investment firm wrote in a recent research note.
"Worried about the U.S. fiscal deficit, trade disputes, wars, sanctions and asset freezes, central banks and other investors have pushed spot gold prices to a record," BofA reported. "Our supply and demand model shows gold can average $3,000 per ounce this year if investment demand increases by just 1%. For it to hit $3,500 per ounce, investment demand would need to rise 10%. That's a lot, but not impossible."
One key factor could be China's initiative to let insurers invest in gold, potentially creating 300 tons of additional demand, BofA wrote. That extra demand would be equivalent to 6.5% of the annual global market, the investment firm continued.
Five Precious Metals Investments to Buy in Turbulent Times: Analysis of Asset Strategies International
"Gold has started 2025 with a bang, breaking out of a post-election slump to already set a new record for all-time high," said Rich Checkan, president and chief operating officer of Asset Strategies International, of Rockville, Maryland. "In 2024, gold snatched 39 all-time high record closes, and the rally is once again going strong.
"As President Trump has taken office, the launch of myriad new policies has thrown markets and news cycles into chaos. Regardless of the future impact of his administration's actions, the unpredictable nature of his governing style has shaken up markets, with the volatility impacting equities, precious metals and the U.S. dollar in the near-term."
Rich Checkan, president of Asset Strategies International.
Five Precious Metals Investments to Buy in Turbulent Times: ASA
ASA Gold and Precious Metals Limited (NYSE: ASA) focuses on gold mining companies, mostly small and mid-cap precious metals stocks, said Michelle Connell, a Certified Financial Analyst (CFA) who is also founder and chief investment officer of Dallas-based money management firm Porsche Capital Management. Specifically, ASA Gold and Precious Metals Ltd. is a closed-end precious metals and mining fund registered with the United States Securities and Exchange Commission and domiciled in Bermuda. Based in Portland, Maine, ASA focuses on precious metals mining companies.
Michelle Connell heads Porsche Capital Management.
Gold mining stocks are worth considering for precious metals investors, said Connell, who recommends ASA. The company is one of the oldest investment management firms focused solely on the precious metals and mining industry.
ASA Gold and Precious Metals Ltd. seeks long-term capital appreciation primarily through investing in companies engaged in the exploration for, development of projects or mining of precious metals and minerals. The company has a policy of investing at least 80% of its total assets in common shares or securities that are convertible into common shares of companies engaged, directly or indirectly, in the exploration, mining or processing of gold, silver, platinum, diamonds or other precious minerals.
Chart courtesy of www.stockcharts.com
In addition, ASA may invest in gold, silver, platinum or other precious minerals such as certificates of deposit (CDs) and investment companies' securities of investment companies, including exchange-traded funds (ETFs), or other securities that seek to replicate the price movement of gold, silver or platinum bullion. The company uses bottom-up fundamental analysis and relies on detailed primary research such as meetings with company executives, site visits to key operations and proprietary financial analysis to make its investment decisions.
Porsche Capital Management's Connell told me that inflation and geopolitical uncertainty will continue to put upward pressure on gold prices.
Five Precious Metals Investments to Buy in Turbulent Times: Merk Magic?
In April 2019, ASA shareholders approved Merk Investments LLC as an advisor to the company. With the increasing price of gold, companies with better leverage to gold operate in the small and mid-capitalization market segment. ASA’s portfolio exhibits improved leverage to the price of gold by investing in such companies.
As a result, ASA’s management has increased select holdings in the small and mid-cap precious metals space. These companies, while improving margins and solidifying their balance sheets, also have growing production and development pipelines relative to larger-cap, its management added.
The ASA management also indicated it is looking for and has taken positions in development and exploration companies that have strong partners who can support these capital-intensive developments in a time when sector funds and general investors are unable to perform the part of capital providers in the size that they have in previous cycles. Another incentive for investors to purchase shares in ASA is that closed-end funds historically often trade at a discount to Net Asset Value (NAV), Merk indicated.
ASA is no exception, Merk officials opined.
“We believe reducing the discount is a process,” Merk wrote. “In our Letter to Shareholders in the 2021 Annual Report, we detail how, first and foremost, we will continue to focus on execution of our investment process; and second, how we have undertaken several initiatives to increase public communication, including listing all of ASA's holdings on a monthly basis in ASA's Fact Sheet."
Following a 27% annual gain in 2024, gold has rallied another 10%-plus year-to-date, outperforming all major asset classes and breaching Citi Research's price target of $2,800 an ounce. In a recent research note, Citi upgraded its price target to $3,000 an ounce, while keeping its 6-12 month target unchanged at $3,000 an ounce. Citi also raised its 2025 average forecast from $2,800 an ounce to $2,900 and ounce.
Five Precious Metals Investments to Buy in Turbulent Times: Carlson's Counsel
Bob Carlson, the head of the Retirement Watch investment newsletter and his proprietary IRA Caculator that helps investors assess whether a traditional IRA should be converted into a Roth IRA, said three key reasons explain gold's recent gains.
First, certain central banks around the world continue to diversify their reserves away from the dollar and other paper currencies by purchasing gold as their "favorite diversifier," Carlson said. Central bank purchases of gold increased since sanctions were imposed against Russia for its invasion of Ukraine and that trend is likely to continue, he added.
Second, monetary policies are becoming expansionary again in the West, Carlson continued. Most central banks have reduced interest rates and plan to keep up interest rate reductions for a while, he added.
"Lower interest rates generally are positive for gold," Carlson counseled. "In the United States, inflation never fell to the Fed's target, but the Fed cut interest rates anyway. That puts investors on edge that inflation might begin moving up again."
Third, the United States has large budget deficits that don't seem likely to decline any time soon, Carlson opined. Government debts usually are paid off at least partially through higher inflation, he added.
"The government pays the debts with currency that has reduced purchasing power," Carlson advised. "Investors worry the perpetual deficits in the U.S. could lead to this result."
Bob Carlson heads Retirement Watch and his proprietary IRA Caculator

Five Precious Metals Investments to Buy in Turbulent Times: RING
"I recommend moving some money from money market funds to gold mining company stocks through iShares MSCI Global Gold Miners (RING)," Carlson told me. "Stocks of gold-mining companies typically rise and fall with the price of gold, though by a greater percentage in each direction."
However, for a host of reasons, gold-mining companies weren’t participating in the gold bull market until recently. Mining stocks now have a lot of ground to make up if past patterns hold, he added.
RING has been on a roll by rising more than 22% so far in 2025 and more than 60% during the past 12 months. An investment in RING may allow investors to later ring the proverbial register with robust returns.
Chart courtesy of www.stockcharts.com
Five Precious Metals Investments to Buy in Turbulent Times: KGC
The third of the five precious metals investments to buy in turbulent times is Kinross Gold Corp. (NYSE: KGC). Gold miner Kinross has risen about 13% in two weeks since it was recommended in the Five Star Trader service led by Mark Skousen, PhD. Related call options had soared 75%. Five Star Trader advised its subscribers to sell half their call options, while holding the rest for additional potential profits.
Kinross also is a recommendation in Skousen's Forecasts & Strategies investment newsletter is up more than 23% since last October. Kinross Gold was recommended to the Forecasts & Strategies subscribers on Oct 14, 2024, at $9.80, before it rose to $12.07, jumping 23.16%.
Mark Skousen, leader of Forecasts & Strategies and a scion of Ben Franklin, meets with Paul Dykewicz.
The gold mining stock also is a recommendation of Citi Research. Kinross is a top gold stock pick by Citi.
Chart courtesy of www.stockcharts.com
Five Precious Metals Investments to Buy in Turbulent Times: AEM
Another dividend-paying gold mining stock recommended by both Citi Research and Skousen is Agnico-Eagle Mines (NYSE: AEM). Skousen's Fast Money Alert trading service recently had produced a 16%-plus gain in the stock and what he described as a "nice profit" in his related call options.
Skousen had a track record of successfully recommending precious metals. He teams up with seasoned stock market veteran Jim Woods on the Fast Money Alert service.
Paul Dykewicz meets with Jim Woods, who heads Investing Edge and co-leads Fast Money Alert.
Woods, who heads the Investing Edge investment newsletter, also has chalked up profitable trades among precious metals stocks.
Chart courtesy of www.stockcharts.com

Five Precious Metals Investments to Buy in Turbulent Times: NEM
Newmont Corporation (NYSE: NEM) is another precious metals company that gleams with the promise of additional profit potential. The stock pulled back in late 2024 but has been trending up since then.
Newmont is the largest gold miner in the world. The company, founded in 1965, is based in Denver, Colorado. It operates globally including in North America, South America, Africa and Australia.
Newmont acquired Goldcorp in 2019, which added additional mines in Canada and South America. Newmont further bought Newcrest in 2023, adding mines in Australia, Canada and PNG.
Chart courtesy of www.stockcharts.com
Five Precious Metals Investments to Buy in Turbulent Times: BofA's Macro Backdrop
The macro backdrop for gold remains very constructive, BofA wrote.
“Fiscal imbalances in the U.S. and other countries make the yellow metal an attractive asset to own for central banks,” BofA opined. “Persistent uncertainty over the policies of the U.S. administration, alongside apprehension over trade disputes, also make gold attractive.
“Interestingly, the gold market entertains sometimes ‘extremist’ theories that are often hard to fully reconcile. To that point, for a long time, gold bugs have often thought that governments and banks have a vested interest in keeping gold prices low. High gold prices are often seen as a signal of weak confidence in fiat currencies. If gold were allowed to rise freely, it would expose the true extent of currency devaluation, and the risks associated with excessive money printing.”
Speculation is arising about a revaluation of America's gold stocks, BofA wrote. Current values of just $42 an ounce in national accounts, if marked at current values of $2,800 an ounce, could inject $800 billion into the Treasury General Account, via a repurchase agreement, the investment firm added.
Such a move might reduce the need to issue as many Treasury bonds this year as otherwise would be needed, but America’s fiscal picture is not the strongest and has been key to bullishness on gold, BofA wrote.
Gold Investments to Buy in Turbulent Times: Summary
The five precious metals investments to buy in turbulent times are showing significant uptrend signs. Investors who are eyeing shares in equities that literally are as good as gold, silver or platinum could discover additional upside, especially with geopolitical high as wars rage around the world.
Paul Dykewicz, www.pauldykewicz.com, is an accomplished, award-winning journalist who has written for Dow Jones, the Wall Street Journal, Investor’s Business Daily, USA Today, the Journal of Commerce, Seeking Alpha, GuruFocus and other publications and websites. Paul, who can be followed on Twitter @PaulDykewicz, is the editor of StockInvestor.com and DividendInvestor.com, a writer for both websites and a columnist. He further is editorial director of Eagle Financial Publications in Washington, D.C., where he edits monthly investment newsletters, time-sensitive trading alerts, free e-letters and other investment reports. Paul previously served as business editor of Baltimore’s Daily Record newspaper. Paul also is the author of an inspirational book, “Holy Smokes! Golden Guidance from Notre Dame’s Championship Chaplain,” with a foreword by former national championship-winning football coach Lou Holtz. The book is great as a gift and is endorsed by Joe Montana, Joe Theismann, Ara Parseghian, “Rocket” Ismail, Reggie Brooks, Dick Vitale and many others. Call 202-677-4457 for multiple-book pricing.

Sincerely,
Paul Dykewicz, Editor
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