Ann: Singapore Future Facing Commodities Corporate Presentation, page-25

Yeah, I’ve never seen this sort of sustained strength in the gold price in my time investing. Gold Bugs have been dreaming of this sort of run probably ever since the 70s wage-price spirals/ oil crises and the dropping of the gold standard.
Possible factors include heightened geopolitical tensions and de-globalisation. I think the real kicker however, is that inflation is still high, recent data suggesting it’s picking back up. We’re still - quite amazingly - up near full employment, and the working class is having some success negotiating ever-higher wages.
Against this, you have the Feds in the USA really throttling back their tough talking commentary, say from a yr back. It’s obvious to all now that they have no intention of raising interest rates any further, indeed they are still talking three cuts this yr. That’s quite a change up given inflation is moving away from their 2% target.
If we have continued inflation, while interest rates are held where they are, or cut back, then POG can only continue to move up (as real interest rates continue to fall). That’s my understanding anyway. Happy to keep topping up on any pull back in SPR share price. This is heading towards the billion dollar market cap, not sure what can stop it getting there.