 RBC Capital has outlined key themes in the gold sector for 2023, noting that a more constructive price environment for gold could lead to increased activity in the industry. The bank highlights five key areas to watch for in the coming year: commodity flows and asset under management support for gold and gold equities; a potential pick-up in MA and financing activity; management of continued cost inflation pressures; ESG momentum and evolving focus issues; and recovery in junior valuations. 