Gold Prices and China's Gold Reserves Continue to Rise

China's accumulation of gold reserves is significant, with an estimated 30,000 tonnes above-ground, accounting for one-third of global demand. BMO estimates this accumulation will continue for another five years before its reserves reach levels comparable to U.S. Treasury holdings.

Senior gold producers are delivering record shareholder returns, with annualized dividends and share buybacks reaching $10.9 billion so far this year, surpassing last year's record of $8.6 billion.

Evolution Mining is expanding its copper growth pipeline through the acquisition of Carnaby Resources for A$213 million, representing a 60% premium to Carnaby's last closing price and a 31% premium to its 30-day VWAP.