Gold prices exceeded $3,000/oz, with potential to reach $3,500 if investment demand rises. China's insurance sector and central banks may increase gold holdings, while ETF inflows signal growing retail interest. Trade policy uncertainty and a weaker U.S. dollar could further support prices.
The Atlanta Federal Reserve’s GDPNow model projects a 2.4% contraction in the U.S. economy for the first quarter of 2025, while JPMorgan has raised its recession probability to 40%.
Gold's strong rise continues, with the precious metal hitting a fresh record on Thursday as investors rush to shield their portfolios from mounting trade tensions and economic uncertainty.
Kinross Gold shares are trading higher by 3.1% during Monday's session. The company announced its agreement to acquire 15.41 million common shares of Relevant Gold.
Gold has long been considered a safe-haven investment, prized for its stability and ability to retain value over time. Unlike fiat currencies, gold has consistently served as a store of wealth.
Kinross Gold (KGC) had a strong 2024, delivering record free cash flow and improved margins, while reducing debt. CEO Paul Rollinson stated in the announcement.
Market indexes were mixed today, after seeing all the majors in the red before the opening bell. The Dow closed up +123 points, +0.28%, while the S&P 500 squeaked by +2 points.
Kinross Gold receives a double upgrade to "Buy" with a price target of $12.75, as production forecasts rise to 2M GEOs annually. Barrick Gold, however, faces challenges with mine shutdowns and tax disputes, leading to a downgrade to "Neutral." Analyst adjustments project Kinross boosting shareholder returns in 2025, while Barrick grapples with risks in Mali and the Dominican Republic.
Gold's 2024 outperformance has carried over into 2025, with GLD up nearly 3% year-to-date and several gold stocks displaying immense relative strength.
