Gold prices hovering near $4,900 per ounce again have prompted veteran derivatives trader Tony Barassi to spotlight four gold investments he believes offer strong potential in the unfolding 2026 bull market.
Barassi, a gold market specialist at Reliable Trading, has named VanEck Gold Miners ETF (GDX), VanEck Junior Gold Miners ETF (GDXJ), Newmont (NEM), and SPDR Gold Shares (GLD) as his top picks in a report, each providing a distinct route to capitalise on constrained supply and rising demand from central banks, geopolitics, and inflation.
Gold prices rose above $4,900 per ounce on Friday for the first time since March 19, primarily due to a weaker dollar.
Additional support came from comments by Iran’s foreign minister, who stated that the Strait of Hormuz remains open during the ceasefire. This news, in turn, lowered oil prices, which helped to alleviate some concerns about inflation.
Here are the four recommendations with recent prices and Barassi’s suggested entry and exit levels:
VanEck Gold Miners ETF (GDX)
Recent Price: ~$97.66 (as of April 16, 2026)
Buy Zone: $85–$95
Take Profit Target: $110–$120
Barassi sees GDX as one of the most straightforward vehicles for diversified exposure to large, established gold mining companies. The ETF tracks the MarketVector Global Gold Miners Index, offering a globally representative basket of senior producers.
“As we move into 2026, the gold price backdrop is materially stronger than 2025,” Barassi noted.
Gold has traded above $5,000/oz, reaching record levels, supporting the core thesis that miners can deliver amplified upside when gold is strong (operational leverage).
Risks to watch: Leverage cuts both ways. Barassi cautions that miners may face sharp sell-offs from profit-taking, cost inflation, political risks, or higher royalties even at elevated gold prices.
VanEck Junior Gold Miners ETF (GDXJ)
Recent Price: ~$129.43 (as of April 16, 2026)
Buy Zone: $110–$125
Take Profit Target: $150–$160
Barassi recommends GDXJ for investors seeking higher torque to gold’s upside through smaller, earlier-stage miners.
“GDXJ is best framed as a higher-upside companion to GDX,” he said. “It can outperform in strong gold bull phases, but it typically requires more careful sizing and entry discipline.”
Risks to watch: Juniors carry greater volatility and risks, including funding constraints, dilution, permitting delays, and regulatory changes. Sharp pullbacks remain common.
Newmont (NEM)
Recent Price: ~$113.41 (as of April 16, 2026)
Buy Zone: $100–$115
Take Profit Target: $140–$150
As one of the world’s largest gold producers, Newmont offers Barassi a solid single-stock representative of large-cap miners with proven operational leverage.
With gold above $4,700/oz, the earnings and free cash flow potential for major producers can be substantial, assuming costs are controlled.
Risks to watch: Company-specific issues such as rising costs, guidance misses, or capital allocation errors. Barassi also highlights the threat of governments increasing taxes or royalties on windfall profits.
SPDR Gold Shares (GLD)
Recent Price: ~$440–$447 (as of mid-April 2026)
Buy Zone: $410–$440
Take Profit Target: $480–$500
For direct, unleveraged exposure to the gold price without mining operational risks, Barassi favors GLD.
“SPDR Gold Shares (GLD) provides direct exposure to gold price movements without taking on mine-by-mine operational, geopolitical, or execution risk,” he wrote. He pointed to record 2025 inflows into global gold ETFs as evidence of strong institutional support.
Risks to watch: GLD closely tracks the metal but lacks miners’ leverage. A drop in safe-haven demand, rising real rates, or a broad risk-on market shift could trigger profit-taking.
Barassi’s Caution on Volatility
Barassi opened his analysis with a clear reminder about the nature of gold moves.
“It’s important to understand one thing clearly: gold doesn’t go up in a straight line,” he said. “There will be volatility along the way. Prices rise and fall, sometimes sharply, even within an overarching upward trend.”
He believes converging forces are setting the stage for something bigger.
“I believe we are entering a period where several forces are converging once again, creating a potentially historic opportunity for gold investors,” Barassi stated. “Supply remains constrained, while demand from central banks, geopolitical uncertainty, and inflationary pressures are all intensifying.”
If correct, he added, gold could “not only surpass the highs of the 2000s but challenge the peaks of the 1970s.
Barassi’s closing advice emphasises discipline: stick to buy zones, use take-profit targets, and monitor positions closely.
If a recommendation is outside the buy zone, it’s best to wait for a future opportunity as it can come unexpectedly through pullbacks or market volatility.
With gold trading strongly in mid-April 2026, Barassi sees a unique window for investors willing to navigate the swings ahead.
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