Inflation-adjusted models project gold futures maintaining a $2,320–$2,370 range in the short term, barring sudden macro shocks. The correlation with USD index remains negative, reinforcing its role as a currency hedge. Western Copper and Gold is not owned by hedge funds. Rio Tinto Group is currently the largest shareholder, with 9.4% of shares outstanding. With 6.5% and 4.2% of the shares outstanding respectively, Kopernik Global Investors, LLC and FMR LLC are the second and third largest shareholders. Additionally, the company's CEO Sandeep Singh directly holds 1.1% of the total shares outstanding. The FOMC meets 8 times a year to set U.S. monetary policy and key interest rate changes; gold markets rise with rate cuts and vice versa. Market breadth in gold futures suggests bullish undercurrents, with higher-than-average short covering seen in the past five trading sessions. This is a classic pre-breakout signal for commodities.
