Gold stocks have surged sharply in the past few months on account of global uncertainty, especially due to the ongoing Russia-Ukraine conflict. Gold miners have particularly outperformed, with the ASX All Ordinaries Gold Index (ASX:XGD) up over 8% so far (22 March) this year.
According to a recent note by Goldman Sachs, gold prices could surge another 25% to US$2,500 an ounce by 2022-end. The note also stated that gold demand would remain robust from both central banks and Asian retail investors amid strong economic recovery.