by Ian Cooper

There’s still plenty of upside ahead for gold.

In fact, the metal could easily rally to $3,000, according to David Rosenberg, the founder and president of Rosenberg Research, as noted by

According to Citi analysts, gold could reach that level in the next six to 18 months thanks to investor inflows and hopes the Federal Reserve will cut interest rates.

Central banks are buying gold, too.

As noted by Business Insider, “The People’s Bank of China, or PBOC, has been snapping up gold for 17 straight months, according to a report from the international trade association World Gold Council. This buying spree coincides with a trend among central banks globally to diversify their holdings to reduce their reliance on the US dollar.”

With gold pushing higher, consider trades such as:

VanEck Vectors Gold Miners ETF (GDX)

One of the best ways to diversify at less cost is with an ETF, such as the VanEck Vectors Gold Miners ETF (GDX). Not only can you gain access to some of the biggest gold stocks in the world, you can do so at less cost.  

With an expense ratio of 0.51%, the ETF holds positions in Newmont Corp., Barrick Gold, Franco-Nevada, Agnico Eagle Mines, Gold Fields, and Wheaton Precious Metals to name a few.

Even better, shares of mining stocks often outperform the price of gold. That’s because higher gold prices can result in increased profit margins and free cash flow for gold miners. In addition, top gold miners often have limited exposure to riskier mining projects.

Sprott Junior Gold Miners ETF (SGDJ)

With an expense ratio of 0.35%, the SGDJ ETF seeks investment results that correspond to the Solactive Junior Gold Miners Custom Factors Index. The Index aims to track the performance of small-cap gold companies whose stocks are listed on regulated exchanges.  

Some of its top holdings include Lundin Gold Inc., Seabridge Gold, Equinox Gold, Victoria Gold, Westgold Resources, Osisko Mining, K92 Mining Inc., Novagold Resources, Regis Resources, New Gold Inc., Sabina Gold & Silver, Argonaut Gold, Centerra Gold, Coeur Mining, Skeena Resources, and K92 Mining to name a few.