Why These Bargain Stocks Can Outshine Gold

The article argues that gold miners may outperform gold itself as a hedge against macro uncertainty. Although gold has fallen more than 5% this year after a 65% rally in 2025, miners are seen as attractively valued and operationally leveraged to any gold rebound. The VanEck Gold Miners ETF has dropped 11% this year, yet technicals suggest gold is stabilizing above $4,000 and the miners ETF is nearing a breakout. BCA Research and fund managers cited in the piece highlight strong free cash flow, buybacks, dividends, and lower capital intensity as reasons miners could benefit even if equities remain volatile. The article frames gold miners as relatively uncorrelated to AI risk and notes valuation discounts versus both their five-year average and the S&P 500, implying meaningful upside if sentiment improves.