Growth stocks are an excellent choice for investors at the moment since low interest rates continue to encourage businesses to expand. One company that growth investors, especially retirees, might want to look into is Royal Gold, Inc. (RGLD)

Royal Gold isn't a traditional mining company in the sense that it develops and produces gold, silver, and other byproducts. Instead, it's a royalty and streaming company that sits back and collects some of the highest margins in the industry. Mining companies that are looking to expand an existing mine or develop a new mine come to Royal Gold for financing. In return for this up-front capital, Royal Gold receives very long-term rights to a percentage of gold or silver production at a well-below market rate. Royal Gold then sells its gold or silver at the spot rate and pockets the difference. In July, Royal Gold announced that its average cost of sales per gold ounce was just $318, compared to the $1,259 it recognized per gold ounce sold in Q4 2017.

Contract partner diversity is another reason to be excited about what Royal Gold can offer retirees. The company has 39 currently producing properties, along with 22 key properties in development. What this means is that if one or two properties runs into a labor contract dispute or has to cease operations to fix broken machinery, it's unlikely to derail Royal Gold. It also means the company has a long line of new mines readying to produce in the near future.

A bullish case can also be made for gold over the long run. For instance, demand has risen steadily in recent years while production growth has been minimal. A slow increase in interest rates, coupled with a weaker dollar, has also been a boon for the yellow metal. No company is liable to feel a more immediate impact on higher gold prices than Royal Gold.

And finally, retirees receive a gold-price dependent dividend. Currently yielding 1.1%, Royal Gold provides the icing on the cake for growth-seeking seniors.