Published on 30 Sep 2024 on Insider Monkey · via Yahoo Finance
Hedge Funds Favor DRDGOLD Limited (DRD) for Its Strong Balance Sheet and...
We recently published a list of 8 Cheap Gold Stocks To Buy According to Hedge Funds. In this article, we are going to take a look at where DRDGOLD Limited (NYSE:DRD) stands against the other cheap gold stocks to buy according to hedge funds.
Gold has been on an impressive rally in 2024, positioning itself as one of the best-performing assets of the year. This surge is largely driven by various macroeconomic factors, including central bank policies and geopolitical uncertainty. According to a report by Reuters, major banks expect the gold bull run to extend into 2025 due to a combination of strong physical demand from China and substantial inflows into exchange-traded funds (ETFs). J.P. Morgan analysts noted that the revival of large ETF inflows, which had been absent since April 2022, is crucial for sustaining the rally. The U.S. Federal Reserve’s recent decision to initiate a rate-cutting cycle is also expected to provide additional momentum for gold prices.