In 2025, gold prices rose roughly 65%, the sharpest annual increase in more than four decades, driven by shifting central bank policies and rising geopolitical risk.
Gold is often seen as a hedge. Investors tend to turn to this during periods of economic uncertainty, high inflation, geopolitical tensions, or when confidence in fiat currencies begins to weaken.
However, unlike stocks or bonds, gold does not generate cash flow. Its value is largely determined by supply and demand, real interest rates, currency fluctuations and general investor sentiment.
That’s why gold often becomes more attractive when central banks start buying interest rates are expected to fall. The same is true when markets are volatile or when investors are concerned about long-term economic stability.
However, owning gold directly is very different from owning gold stocks, and there is a reason why many investors choose to own a high-quality gold stock like Barrick instead of the yellow metal.
Why Barrick is one of the best gold stocks to own
Barrick is a popular investment for investors looking for exposure to the precious metal, as it is one of the top gold mining companies in the world. Due to its enormous size and scale, it operates a diversified portfolio of low-cost, long-lived mines across multiple regions, reducing operational and geopolitical risk.
In addition to gold, Barrick also has exposure to copper, giving the company some diversification outside of precious metals. This is important because copper plays a key role in electrification, infrastructure and long-term global growth trends.
Furthermore, unlike physical gold, a gold stock like Barrick offers leverage, which is why many investors prefer owning companies instead of precious metals.
For example, if the price of gold is $3,000 and a company produces gold for $2,500, it would make a profit of $500 on each ounce. However, if the price of gold were to rise quickly to $3,500, even though that is only a 16% price increase, the miner would see its profits increase by $500 per ounce, a 100% increase in profits.
It’s that leverage that makes gold stocks so attractive to own when the gold price rises. The downside, of course, is that operating costs, mining disruptions and political risks can all impact performance in ways that physical gold would not.
That’s why, while gold stocks offer safe-haven exposure, they are inherently more volatile themselves, but it also creates the potential for stronger returns when conditions are right.
Buy, sell or keep Barrick in 2026?
In 2025, when the gold price rose 65%, Barrick’s share price saw a jump of about 160%, which naturally raises the question of whether the opportunity has already passed.
The stock has continued to rise through early 2026 and is currently trading at a 52-week high. While Barrick isn’t trading cheap by any means, it doesn’t look overvalued either.
Furthermore, the case for gold remains intact in the current environment. Inflation may be lower than at its peak, but uncertainty surrounding global growth, government debt and interest rate policy continues.
That’s why the shares still make sense as a long-term investment for most investors who already own Barrick. It’s one of the best gold stocks to buy for sector exposure, and a company built to be owned for the long term.
If you don’t have exposure to gold stocks, it may make sense to be patient, wait for a more attractive entry point, or gradually build up exposure to gold rather than chasing the rally.
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