Gold Prices Regain a Foothold After Multiple Negative Sessions
FinancialBuzz.com News Commentary
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NEW YORK, March 10, 2021 /PRNewswire/ Gold prices rebounded about 2% on Tuesday, surpassing the key price mark of USD 1,700 and posted their first gain in five sessions. The yellow metal s recovery is attributed to a fall in the dollar value and a pullback in yields for government debt from one-year highs. Given the metal s zero-yielding nature, falling yields may provide a tailwind for bulls to elevate prices higher, said Lukman Otunuga, Senior Research Analyst at FXTM, according to a report by CNBC. While gold is considered a hedge against potential inflation from massive economic stimulus measures, rising bond yields have challenged that status, which is why gold prices had been dropping prior to Tuesday. Exploits Discovery Corp. (CSE: NFLD) (OTCQB: RNRRF), Gold Fields Ltd. (NYSE: GFI), Great Panther Mining Limited (NYSE: GPL), Equinox
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