Goldman Sachs recommends gold mining stocks as one of its top trades heading into the final quarter of the year, with the investment bank expecting the precious metal will continue to rally. Spot gold has already soared 38% this year, rising above $3,600 per ounce. Goldman expects prices will rise another 14% through 2026 due to strong demand from central banks and exchange traded funds. “Gold mining stocks should rally alongside the underlying commodity,” Goldman analysts led by David Kostin told clients in a report published postmarket Friday. Mining stocks Dakota Gold , Anglogold Ashanti and Newmont have doubled this year. SSR Mining has tripled. Perpetua Resources and Royal Gold are up about 75% and 41%, respectively. Goldman is also recommending two other trades for the rest of the year. Alternative asset managers’ valuations haven’t recovered to their post-election highs despite improving capital markets, according to the investment bank. And companies with high floating rate debt should see their earnings estimates improve as the Federal Reserve cuts interest rates. Goldman is also expecting the S & P 500 to rise by 2% through the end of this year and 6% through the middle of 2026.
