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Macquarie raised its 2016 gold forecast for the precious metal by 4.8 percent, while Morgan Stanley announced its gold price outlook for the year up 8 percent to $1,173 per ounce. Calico Resources Corp. and Paramount Gold Nevada Corp. announced this week that Paramount has agreed to acquire all of the issued and outstanding common shares of Calico. Just days before the signing of the Treaty of Guadalupe Hidalgo, gold was discovered at Sutter's Mill in California. Despite attempts to keep the find secret, word spread across the country, reaching the East Coast by August. Over the following years some 300,000 people from all around the world traveled to California by land and sea in the first of the great gold rushes of the 19th century.