Gold Prices React to Renewed Concerns Over the Ongoing Pandemic
- FinancialBuzz.com News Commentary
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NEW YORK, April 22, 2021 /PRNewswire/ The gold market continued to climb back towards the USD 1,800 an ounce mark on Wednesday, as precious metals benefited from a weaker U.S. dollar and lower bond yields. In part, renewed concerns about the virus helped prevent a rise in long-term bond yields with the 10-year Treasury note yield remaining at around 1.56%. Subdued government debt yields can boost appetite for precious metals which don t offer a coupon. A growing sense of unease over the surging COVID-19 cases in Asia has hit risk sentiment and left investors on edge, Lukman Otunuga, Senior Research Analyst at FXTM, told MarketWatch. With concerns likely to rise over how this may impact the world s economic rebound from COVID-19, gold has the potential to push higher as risk-off makes a return. Exploits Discovery Corp. (CSE: NFLD) (OTC:�
Investors Await a Potential Rebound in Gold Production
FinancialBuzz.com News Commentary
NEW YORK, March 5, 2021 /PRNewswire/ Markets tumbled Thursday after U.S. Federal Reserve Chair Jerome Powell reiterated a previous narrative to keep credit flowing until Americans are back to work. Some see this as a direct rebuttal of investors who have openly doubted that the Fed can stick to that plan after the pandemic. According to a report by Reuters, with vaccines rolling out and the government fiscal taps open, there is good reason to think we will make more progress soon toward the Fed s goals of maximum employment and 2% sustained inflation, Powell told a Wall Street Journal forum. Yet, a major factor to consider is the anticipated gold miners production rebound in 2021. Kitco reports that the top 20 gold miners are projected to lose about 5% of their total 2020 gold output primarily due to the pandemic and related restrictions. However, in 2021, gold production is likely to rebo