Highlights
*Sourced from the Weekly Gold Monitor

• The spot gold price closed at $613/oz last Friday, a 5%increase from the previous week. Gold strengthened on expectations that the U.S. Federal Reserve may curb further interest rate increases.
• The sector is currently discounting a gold price that is equal to the spot gold price. The two-year average is $55/oz.
• Valuations continue at historical lows, with the North American seniors and intermediate equities trading at parto our 0% NAV compared to the two-year average premium of 25%.

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