Ann: AGM Presentation, page-8

Steel will be the strongest trade in the first quarter of 2024, and base metals will rally during the second half of the year, but summer will be gold’s time to shine, according to metals strategists at Bank of America.In their recently published Metals and Mining Outlook for 2024, the BofA analysts said that while the war in the Middle East has boosted gold in the near term, “the yellow metal ultimately remains a trade on rates, so once the Fed announces a decisive end to the hiking cycle in 2Q, new buyers should come into the market.”If the Fed cuts earlier, they believe gold could finish 2024 at $2,400 per ounce.

So at the current price the gold that is underground has already increased almost 15% from the level of low $1.800 USD that it was sitting a few months ago. At the end of 2024 if it sits around $2.400 USD then that will be an increase of 30% on the value. Is looking so damn good for gold.