Ngd stock price forecast recent gold ETF inflows could spill

Recent gold ETF inflows could spill over into miners, benefitting NGD. This correlation adds weight to a positive NGD stock price forecast through the next earnings cycle. The World Gold Council said in its annual report that the global demand for gold hit a record high in 2024, fueled by investment demand growth and robust central bank purchases. Total gold transactions reached 4,974 tons in 2024, up from 4,899 tons in 2023, including over-the-counter (OTC) investments. Central banks are exhibiting an “insatiable” appetite for gold. The Council said they have attained a significant milestone, maintaining a continuously solid pace of gold purchases. The buying exceeded 1,000 tons for the third consecutive year in 2024. Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5. Commodity market strategists believe that if gold breaches $2,350, the NGD stock price forecast could move beyond $1.85, especially with operational efficiencies improving across both its mines.