West Red Lake Gold Mines President and CEO Shane Williams told David Lin in a recent interview that he expects gold to surpass $3,000 an ounce in 2025 amid an increase in institutional investor interest.
“Remember, with what we’re seeing today, we haven’t even seen the big institutional money coming into the gold mining space. Right now, it’s been driving by central bank buying, China … but we haven’t seen a lot of investors getting into gold. I think that will increase the pace of the gold price,” said Williams, who oversees operations of the Canadian micro-cap gold operation.
Looking to move higher
Gold prices traded slightly upward Friday at $2,661 an ounce and has gained more than 30% year-to-date — a $600 an ounce increase since January.
“I still see $3,000 as a possibility,” Williams said. “I don’t like to make predictions, but I think by the end of 2025, we could be in that sort of range. We’ve moved that much in the last eight months alone if you look back at the start of that leverage.”
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Institutional interest coming?
Williams said gold has performed better than many junior miners that are in operation.
“For the big institutions, it’s been hard for them to come down to the lower level and buy into the small juniors, because they’ve been so depressed in pricing,” he said. “As the market goes (up) and they get those readjustments, I expect them to take those opportunities to leverage the upside.”
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