With gold at record highs above $3,000, there’s a good chance the metal could test $3,500, even $4,000 this year. Analysts at UBS just raised its gold price forecast to $3,200, citing a potential prolonged global trade conflict as a key catalyst. Analysts at Macquarie say gold could rally to $3,500 by the third quarter of this year thanks to its safe-haven status and concerns about the U.S. budget deficit. All of which is a substantial catalyst for gold stocks, such as Gold Hunter Resources Inc. (CSE: HUNT) (OTCQB: HNTRF), Newmont (NYSE: NEM) (TSX: NGT), Barrick Gold (NYSE: GOLD) (TSX: ABX), Royal Gold (NASDAQ: RGLD), and Kinross Gold (TSX: K) (NYSE: KGC).
“We do still think there are some materially bullish developments likely to come for gold,” said Marcus Garvey, Macquarie’s head of commodities strategy, who raised the bank’s top-end price target from $3,000 to $3,500 last week, as noted by Bloomberg. “I don’t really see things that would suggest to us that this rally is in an area that’s become frenzied or overextended.”
Central bank buying is another key catalyst, with China expanding its gold reserves again in February. It now holds about 73.61 million ounces of gold.
And, according to the World Gold Council, global central banks picked up 18 tons of gold just in January. “Goldman Sachs — which raised its year-end forecast to $3,100 just last month — now sees a growing likelihood of an even bigger rally, driven by strong central bank buying and rising investor demand,” added Bloomberg.
Look at Gold Hunter Resources Inc. (CSE: HUNT) (OTCQB: HNTRF)
Gold Hunter Resources Inc., announced the Company has uplisted its American listing to the OTCQB® Venture Market, and has received DTC eligibility.
OTCQB Uplisting: Expanding Access to U.S. Investors
Gold Hunter is pleased to announce that its common shares have been uplisted to the OTCQB® Venture Market in the United States under the new trading symbol "HNTRF" effective immediately. The Company will continue to trade on the Canadian Securities Exchange (CSE: HUNT) as well as on the European Frankfurt Stock Exchange (6RH).
The OTCQB Venture Market serves as a premier trading platform for emerging companies, offering greater visibility, liquidity, and transparency to United States investors. Companies must meet stringent financial and regulatory requirements, including annual verification, management certification, and compliance with U.S. securities laws.
Gold Hunter’s proactive uplisting aligns with upcoming OTC Market structure changes, including the introduction of the OTCID™ Basic Market, effective July 1, 2025. This shift highlights the importance of companies qualifying for OTCQB and OTCQX, where higher disclosure standards drive greater investor confidence and trading efficiency.
For more information on these changes, visit: [OTC Markets Announcement]
Gold Hunter Receives DTC Eligibility
The Company is also pleased to announce that its submitted application for Depository Trust Company (DTC) eligibility has been received and approved. DTC eligibility simplifies the trading process by allowing U.S. investors to trade, settle, and transfer shares electronically, increasing liquidity, reducing transaction costs, and streamlining stock transfers for shareholders.
Other related developments from around the markets include:
Newmont reported gold Mineral Reserves of 134.1 million attributable ounces at the end of 2024 compared to the Company’s 135.9 million attributable ounces at the end of 2023, inclusive of assets held for divestment. Newmont's go-forward Tier 11 portfolio includes 125.5 million attributable gold ounces and significant Mineral Reserves from other metals, including more than 13.5 million attributable tonnes of copper reserves and 530 million attributable ounces of silver reserves. "Newmont has solidified its position as the gold industry's leader with the highest concentration of Tier 1 assets, reserves and resources," said Tom Palmer, Newmont's President and Chief Executive Officer. "Supported by our industry-leading exploration program, we continue to focus on extending mine life, developing districts and discovering new opportunities in the most favorable mining jurisdictions. Newmont's extensive gold and copper reserve base represents the foundation for stable production and meaningful value creation for the next several decades."
Barrick Gold reinforced its commitment to growth, reporting significant progress of its key growth projects while achieving its production guidance and setting the stage for continued sustainable value creation, said president and chief executive Mark Bristow in the company’s annual report. During the year, Barrick completed feasibility studies for the Lumwana Super Pit Expansion in Zambia and the Reko Diq project in Pakistan. Both projects confirmed their Tier One1potential, with Lumwana contributing 8.3 million tonnes of copper reserves2 and Reko Diq adding 13 million ounces of gold reserves and 7.3 million tonnes of copper reserves on an attributable basis3. The company also successfully replaced all the gold and copper it mined during the year, more than replenishing the 4.6 million ounces of attributable gold mineral reserve depletion at better grades.
Royal Gold announced that its Board of Directors has declared its second quarter dividend of $0.45 per share of common stock. The dividend is payable on Thursday, April 17, 2025, to shareholders of record at the close of business on Friday, April 4, 2025. In addition, the company just reported net income of $332.0 million, or $5.04 per share, for the year ended December 31, 2024, on revenue of $719.4 million and operating cash flow of $529.5 million. Adjusted net income1was $346.4 million, or $5.26 per share. For the quarter ended December 31, 2024, we reported net income of $107.4 million, or $1.63 per share, on revenue of $202.6 million and operating cash flow of $141.1 million. All annual and quarterly figures represent record results for the Company.
Kinross Gold announced that the Company’s Board of Directors has declared a dividend of US$0.03 per common share for the fourth quarter of 2024. The dividend is payable on March 20, 2025, to shareholders of record as of the close of business on March 5, 2025. In addition, J. Paul Rollinson, CEO, made the following comments in relation to 2024 fourth-quarter and year-end results: “2024 marked another excellent year for Kinross and we have, once again, met our production and cost guidance. We delivered record free cash flow7 of $1.3 billion, which more than doubled year-over-year, repaid $800 million of debt, and grew our margins by 37%, significantly outpacing the rise in gold price. Three years ago, in February 2022, we acquired Great Bear through a combination of cash and shares. I’m proud to say that, since then, we have fully repaid the debt associated with that acquisition and have fewer shares outstanding due to our share buyback program. We have also outlined a high-grade resource and published an attractive Preliminary Economic Assessment demonstrating top-tier, high-margin production potential.”
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