Gold prices rocketed higher today, cresting a historic $2000 an ounce, as stocks tumbled on the last day of the month, and yields are at some of the lowest level in history.

Gold futures are seeing their best monthly performance in over eight years and have generated a frenzy among investors. Yet, although there are robust expectations for retail investors that momentum will drive prices higher, sentiment is starting to shift among analysts, especially as the precious metal approaches technical levels on a longer timeframe

“Prices are overheating and $2,000 could be an attractive level where traders take some profits but global monetary policy and currency debasement will continue to support prices through the rest of the year,” said Eugen Weinberg head of commodity research at Commerzbank.

Meanwhile, other industry pundits like Jim Rickards, best-selling author, and Peter Schiff, CEO of Euro Pacific Capital, both think that the rally also has further to go.

With the SPDR Gold Shares (GLD) 0.77% higher Friday amid rising gold futures, Rickards’ analysis points the gold price to $15,000 by 2025.

“I would put [gold at $15,000 an ounce before 2025,” Rickards told Kitco News. “If you just take the average of the prior bull markets: 1971 to 1980, nine years, 2200%, 1999 to 2011, a twelve-year bull market, about 700%. Just take the average, you don’t have to go to the higher of the two or extrapolate, if you just take the average of the two you would say the next bull market is going to be a little over 10 years and it’s going to go up 1500%,” he said.

Although the rapid spike in the precious metal could certainly warrant a pullback, ETF investors can get gold exposure via miners ETFs which are rallying strongly Monday using the following funds:

  • VanEck Vectors Gold Miners (NYSEArca: GDX): seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE® Arca Gold Miners Index®. The index is a modified market-capitalization weighted index primarily comprised of publicly traded companies involved in the mining for gold and silver.
  • Direxion Daily Jr Gold Miners Bull 3X ETF (NYSEArca: JNUG): seeks daily investment results, before fees and expenses, of 200% of the daily performance of the MVIS Global Junior Gold Miners Index. The index includes companies from markets that are freely investable to foreign investors, including “emerging markets,” as that term is defined by the index provider.
  • Direxion Daily Gold Miners Bull 3X ETF (NYSEArca: NUGT) : seeks daily investment results, before fees and expenses, of 200% of the daily performance of the NYSE Arca Gold Miners Index. The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, such as swap agreements, and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index is comprised of publicly traded companies that operate globally in both developed and emerging markets, and are involved primarily in the mining for gold and, in mining for silver.

For more market trends, visit ETF Trends.