Tag Archives: Yellen

Godl-canada

Canadian Stock Rise on Precious Metals’ Rally

The stocks of Canadian producers of precious metals received a boost after negative U.S. unemployment data were released yesterday and Janet Yellen indicated intentions for continued stimulus in her testimony in the U.S. senate as the nominee for Chairman of the Federal Reserve.

B2Gold Corp. rallied 5.1 percent with the price of gold reversing on five days of losses. Pan American Silver Corp. climbed 7.8 percent as silver gained. CGI Group Inc. (GIB/A), while Agnico Eagle Mines Ltd. gained 4.5 percent.

The raw-materials industry experienced a general lift with stock rising 1 percent in 8 out of 10 industries. Total trading volume exceeded the 30-day average by 11 percent.

The longest-running slump in gold since August broke off yesterday as gold jumped 1.4 percent The S&P/TSX Gold Index increased 2 percent with 22 of its 24 members advancing. Pan American Silver ralled 7.8 percent and Silvercrorp Metals Inc. increased 3.5 percent.

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An Air of Uncertainty

An Air of Uncertainty

European markets showed signs of deep suspicion over the looming sequestration in the US and the Italian elections which might make or break the euro. The scheduled data releases for the coming week include euro-zone manufacturer prices and the Spanish unemployment numbers. Additionally, the U.S. Fed vice-chair Janet Yellen will deliver a speech and eurozone finance ministers meet and greet in Brussels to deliberate the situations in Italy and Cyprus. Just before the markets open, the euro is frailer than during evening trading in New York on Friday and crude oil is sinking while gold is still sound.

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