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Stock impact report

Third Wave Of The U.S. Dollar Cycle [Seeking Alpha]

Gold Fields Limited American Depositary Shares (GFI) 
US:NYSE Investor Relations: goldfields.com/investors.php
Company Research Source: Seeking Alpha
Despite the bull run in 2025, the majors are not exhibiting the type of “stretched” multiples that typically coincide with cycle peaks. Since mid-2022, global central banks have been rebuilding their gold reserves, with net quarterly purchases coming in well above the average from the prior decade. Research from Bloomberg Intelligence indicates that there could be a pick-up in acquisitions of exploration-stage companies in 2026, where Crescat's activist metals portfolio is heavily focused. Angelica Zander/iStock via Getty Images We think the gold panic on Friday on the announcement of Kevin Warsh as the new Fed Chair caused a healthy pullback from short-term overbought conditions in the precious metals markets. While Warsh may appear the least dovish among President Trump's candidates, we believe he is indeed in favor of lowering interest rates in 2026, as the President has also affirmed. Investors in Crescat's portfolio of undervalued precious and critical metals miners shou Show less Read more
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