Desk notes
What happened, dated and sourced.
Short records of the things that move the research: a quarterly result, a deal, a policy decision, a data release, a market close. Each one cites the document it came from and says in a sentence why a U.S. reader should care. The briefs do the interpreting; the notes keep the record.
3 notes in Gold & Precious Metals
September 2026
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Data / Gold & Precious Metals
Gold rose 13.3% in August to US$4,563, its third-strongest month in 25 years
The World Gold Council's August commentary puts the month's return among the three best since 2001, driven by ETF, futures and options buying, after a first half in which the price fell from a January record of US$5,405 to US$4,027 at the end of July.
August 2026
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Results / Gold & Precious Metals
Wheaton's Q2 revenue sets a record as cash falls to US$100 million after Antamina
Second-quarter cash operating margin of US$3,875 per gold equivalent ounce came on a realized gold price of US$4,452; the US$4.3 billion BHP stream left the company with US$1,969.3 million of bank debt against US$100.2 million of cash.
July 2026
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Results / Gold & Precious Metals
Agnico Eagle posts record Q2 free cash flow, guides 2026 to the low end
Second-quarter free cash flow of US$1,335 million on a realized gold price of US$4,483 an ounce came with total cash costs up to US$1,054 from US$925 a year earlier, and a July 1 rock mass movement at the Barnat pit is expected to cost 60,000 to 80,000 ounces in the second half.