Over the last several weeks, gold rallied from a low of $1,825 to a high of $2,075.

And while it’s showing some signs of weakness, the metal could rally even more in 2024.

That’s because we believe the Federal Reserve has finished raising interest rates.  Helping, as noted by Reuters, “Gold prices rallied to an all-time high on Friday after remarks from Federal Reserve Chair Jerome Powell increased traders’ confidence the U.S. central bank had completed its monetary policy tightening and could cut rates starting March.”

We also have to consider that central banks are still aggressively buying gold.

“Central banks have been a major source of demand in the global gold market over the last couple of years and 2023 is likely to be a record year. The World Gold Council expects this to continue in 2024,” added CNBC.

That could be great news for gold investors and gold stocks, such as Barrick Gold (GOLD), Newmont (NEM), and Royal Gold (RGLD), for example. It could also boost gold mining ETFs, such as the Sprott Gold Miners ETF (SGDM) and the following:

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.

Sprott Junior Gold Miners ETF (SGDJ)

With an expense ratio of 0.35%, the Sprott Junior Gold Miners ETF (SGDJ) seeks investment results that correspond to the performance of its underlying index, 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.