The Globe and Mail reports in its Friday, April 5, edition that analysts at National Bank Financial see the expectation for declining real rates supporting precious metal prices with equity valuations remaining near trough levels. The Globe's David Leeder writes in the Eye On Equities column that the National Bank analysts say: "We outlined a constructive outlook for precious metal prices within our 2024 Year Ahead Thematic. With an improving outlook for declining real rates, heightened geopolitical risk and continued strong global central bank purchases, gold/silver prices have responded favourably up 11.1 per cent and 14.2 per cent year-to-date, respectively. We've updated estimates and price deck on the back of a strong gold tape to start the year which has seen numerous names across our coverage show significant share price gains. Despite the significant increase in precious metal prices, equity valuations remain near trough levels and are poised to play catch up." The National Bank analysts continue to rate Agnico Eagle Mines "outperform," while boosting their share target to $105 from $85. Analysts on average target the shares at $89.74. The Globe reported on April 3 that Citi rated Agnico "buy." It was then worth $82.53.