Agnico Eagle Mines Completes Acquisition of Rupert Resources

China's central bank, the PBOC, said on October 7 that it added another 740,000 ounces of gold to its reserves in September, a 23rd consecutive monthly increase, as gold prices eased toward 4,000 dollars an ounce. Gold fell more than 6% in September as higher energy prices stemming from conflict in the Middle East stoked inflation and pushed the U.S. Federal Reserve to raise interest rates. Meanwhile, a survey of 74 central banks published by the World Gold Council in June found that 45% of respondents planned to buy more gold next year, the highest share since the survey began in 2018, with only one aiming to reduce purchases. Joachim Nagel, president of Germany's central bank, said earlier this week that rising government public debt is a factor pushing central banks to increase their gold holdings. Sergio Nicoletti Altimari, deputy governor of the Bank of Italy, told the London Bullion Market Association's annual meeting in Sorrento on Monday, October 5, that gold is a safe asset whose role is especially important now amid high geopolitical risk and concerns about economic fragmentation.

Trinity Securities assesses that global stock markets in the fourth quarter of 2026 will face a tug-of-war between macro factors weighing on sentiment and micro factors supporting the market. It expects the SET Index to swing within a range of 1,500 to 1,700 points and recommends gradually accumulating stocks when panic selling occurs, through a bottom-fishing strategy. It also highlights five standout stock themes: livestock, tourism, retail, processed agricultural products, and sectors benefiting from foreign direct investment. Natchat Mekmasin, senior assistant managing director of the securities analysis department at Trinity Securities, said the SET Index target from the PE Model stands at 1,750 points in the best case, 1,630 points in the base case, and 1,510 points in the worst case, compared with the current SET level of about 1,580 points. Meanwhile, Thailand's implied equity risk premium is around 5.8%, higher than the long-term average of 4.0%. Kamolchai Polinthong assessed that the gold price has passed its low of 3,900 US dollars per ounce and recommends gradually accumulating in the 4,000 US dollars per ounce zone, aiming to take profits at a target of 5,000 US dollars per ounce early next year. At the same time, Trinity Securities has launched the DR Terminal program, developed jointly with the Stock Exchange of Thailand to help Thai investors access foreign stock data, with features including a Valuation Screener, DR Compare, and Trinity Underlying Scanner.

B2Gold has reported encouraging drilling results from its Back River Gold District program in Nunavut, confirming high-grade mineralization and a new Tattuk discovery near the Nuvuyak zone. The exploration update follows a 90 day share price return of 37.62% and a year to date gain of 19.19%, though the 30 day share price return slipped 4.77% and the 1 year total shareholder return stands at 2.81%. B2Gold's most followed narrative pegs fair value at CA$11.06 per share against a last close of CA$7.39, a 33% undervaluation gap. Planned operational upgrades including a wind farm and medium-speed generators at Goose are expected to structurally lower long-term fuel costs and emissions. The company's heavy exposure to higher risk regions and its finite reserve base remain key risks to that undervaluation story.