My number one way to invest in gold, both to protect against rising inflation and to take advantage of rising prices in a number of other valuable metals, is Freeport-McMoRan (). Since March 2020, shares of this company have surged from an adjusted close of $5.13 a share to $36.55 a share in December 2023 – a gain of 612% in three years. 
Image Source: One reason for its amazing performance is that this company produces not just gold, but also silver and copper. Copper prices soared during the pandemic, as demand for the metal in the face of possible shortages caused the price to move higher. That means you can safely protect your savings with a precious metals investment that increases in value even if the price of gold fluctuates.And to top it off, Freeport-McMoRan – with a market cap of $52 billion – also pays a dividend! It’s not huge, around a 0.8% yield recently, but that’s a good sign of continued future growth. In June 2023, Barron’s published this headline: “Buy This Copper Stock. Price Could Soar 50%.”Another area that is seeing higher demand for copper is renewable energy. Wind and solar both depend on copper to transport and store energy. And as more and more countries increase their reliance on renewable energy, expect to see demand for copper continue to rise.FCX mines throughout the world. One of its biggest mines, the Cerro Verde mine in Peru, was able to achieve a milling rate exceeding 400,000 metric tons of ore per day in 2022. And the stock has been moving up since it hit a low in May due to increased expectations of annual growth by analysts.With a P/E ratio of 26 and a healthy $0.31 earnings per share (EPS), the company is using its revenues to expand while also cutting corporate costs to increase profits and pay down debt.Recommended Action: Buy FCX.More By This Author:EMXC: A Way to Get Global Market Exposure Without China-Related DragQQQ: With Primary Trend Higher, Your Best Bet Is To Stay Long StocksGGN: A High-Yielding Play For Investors With Gold FOMO
FCX: A Great Way To Invest In Gold (And Copper, Too!)
