On August 19, Gold Fields rose 5.21% in pre-market trading, trading at $43.05/share, with turnover of $2.6176 million.
On the news front, Deutsche Bank commodity strategist Michael Hsueh released a report titled \"Commodities: Gold Explosive Phase,\" asserting that gold's fifth \"explosive\" rally phase initiated in 2024 remains intact. Central bank purchases and ETF inflows form dual inelastic demand support, with a year-end price target range of $4,700-$5,100/oz. ETF 30-day net inflows have reached 1.5 million ounces, while central bank gold purchases hit a record high in Q1 at $38.88 billion in real dollar terms.
Separately, Canaccord Genuity previously upgraded Gold Fields to Buy from Hold, raising its price target to $57.25 from $40.25. According to FactSet, the stock carries an average analyst rating of overweight with a mean price target of $58.63.
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