£3k to spend on your ISA? Here’s a cheap gold stock I reckon could help you get rich in 2020

first_img Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. £3k to spend on your ISA? Here’s a cheap gold stock I reckon could help you get rich in 2020 Image source: Getty Images. Simply click below to discover how you can take advantage of this. Royston Wild | Monday, 6th January, 2020 | More on: SHG Our 6 ‘Best Buys Now’ Shares The soaring crude price might be dominating the financial headlines right now, but rather than buying one of London’s oil drillers I reckon investors are much better off buying shares in gold producers.The 2020 outlook for precious metal prices was already quite robust on a mixture of slowing global economic growth, political uncertainty in Europe and North America, and an environment of low interest rates worldwide. But many brokers are expecting even higher prices following the emergence of military action and subsequent political tension between the US, Iran, and Iraq late last week and over the weekend.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Perky predictionsGold values have continued to push on following a bubbly start to the year and, at recent prices of above $1,580 per ounce, they are at their loftiest since 2013. Bullion values have risen on the back of rising political tension between the US and key Middle Eastern states, and if the boffins at Goldman Sachs are to be believed then extra gains could be in the offing.The bank pointed out that “spikes in geopolitical tensions lead to higher gold prices when they are severe enough to cause currency debasement,”and added that the flight-to-safety asset “performed well, even controlling for real rates and dollar weakness, during the beginning of both Gulf wars and during the events of September 11, 2001.”Goldman Sachs kept its gold price forecasts locked at $1,600 per ounce though you can expect that figure to rise should the situation in the Middle East deteriorate further in the days and weeks ahead.A top buyThings were already looking good for bullion values as other political issues like Brexit and the US presidential elections have worried investors and economic data from Europe, Asia, and North America has rattled nerves, conditions that caused me to tip Shanta Gold (LSE: SHG) as a solid ‘buy’ for January.The precious metals giant has already risen 6% in value since New Year’s Eve to 10.15p per share, and it’d take a braver man than me to rule out a move to fresh multi-year highs. A rise of just half of one pence would take Shanta to its highest valuation since the beginning of 2017.But bubbly gold prices aren’t the only reason to buy into the AIM-quoted firm today. As I commented recently, production is rising by double-digit percentages, while Shanta has also impressed on the exploration front, raising its resource estimates at the New Luika asset in Tanzania late last year.At current prices Shanta trades on a forward price-to-earnings ratio of just 7.3 times, giving ample space for fresh share price gains. It may not offer big dividends like Polymetal International or Centamin but that low rating still makes it a terrific buy in my opinion. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool.center_img I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. “This Stock Could Be Like Buying Amazon in 1997” Enter Your Email Address Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! See all posts by Royston Wildlast_img read more