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  5. AEM: Hi there, Do you think the gold rally is starting to falter or do you believe the current down leg is a consolidation and gold/gold stock prices will resume uptrend? [Agnico Eagle Mines Limited]
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Q: Hi there,

Do you think the gold rally is starting to falter or do you believe the current down leg is a consolidation and gold/gold stock prices will resume uptrend?

Thanks!
Asked by Robert on May 19, 2025
5i Research Answer:

We doubt it is over, especially after the US rating downgrade on Friday. Some of the 'tariff/fear' trade has been taken out of gold, but other issues and concerns of course remain. Investors we think have more faith these days with gold as a store of value against declining currencies.