Gold market news covering gold prices, bullion trading, gold ETFs, precious metals investing, and gold market analysis.
This commentary argues that Agnico Eagle's cost discipline, not just rising gold prices, drives its value. It contends that the CEO's reaffirmation of guidance and production weighting toward the second half signals potential for further margin expansion, distinguishing well-run miners from those merely benefiting from the commodity boom.
China's central bank added 320,000 troy ounces of gold to its reserves in May, extending its buying streak to 19 months, the longest since at least 2015. The purchase was announced on Sunday.
This commentary argues that gold's recent pullback from record highs may be the start of a larger decline, based on historical patterns of sharp rallies followed by prolonged retreats. However, it suggests that new drivers—central bank buying, retail demand, and geopolitical fears—could alter the usual cycle, though caution is warranted against assuming 'this time is different.'