NEW YORK, June 16, 2016 /PRNewswire/ --
http://www.FinancialBuzz.com : The Federal Reserve announced
their monetary-policy decision this week and kept interest rates
unchanged, but signaled for two possible rate increases by the end
of this year. The Federal Reserve indicated that it expects the
U.S. job market to strengthen after a recent slowdown, but also
stated that economic growth is expected to slow over the next
couple of years. As a result, the Fed's projected a lower rate hike
path in 2017 and 2018. Market Vectors Junior Gold Miners ETF
(NYSEARCA: GDXJ), Market Vectors Gold Miners ETF (NYSEARCA:
GDX), Brazil Resources Inc. (BRI.V), Pretium Resources
Inc. (PVG.TO), Franco Nevada
Corp. (FNV.TO)
In addition, with no Federal Reserve rate hike looming or a near
and clear date set, the U.S. Dollar weakened and Gold prices began
to surge. In the beginning of the year, the global investment
community stayed far away from Gold as price per ounce dropped
below $1100. Many Gold enthusiast
always predicted a big rebound and many are now pounding their
chest as Gold prices are smashing through $1300/oz.
Market Vectors Junior Gold Miners ETF (NYSEARCA: GDXJ)
jumped about 5% intraday to fresh new 52-week high or $41.36/share. Alongside gold prices rebounding,
Junior gold mining companies are quite popular this year. One of
the most popular and active companies in this sector is
Brazil Resources Inc. (TSX-V: BRI). Shares are up a whopping
550% between its 52-week low of $.38
this year, to recently hitting a fresh new 52-week high of
$2.49.
Brazil Resources Inc. is mineral exploration company with a
focus on the acquisition, exploration and development of projects
in Brazil, United States, Canada and other regions of the Americas.
Brazil Resources is advancing its Whistler Gold Project, located in
Alaska, United States, its São Jorge and Cachoeira
Gold Projects, located in the State of Pará, northeastern
Brazil, and its Rea Uranium
Project, located in the western Athabasca Basin in northeast Alberta, Canada.
The adult version of (NYSEARCA: GDXJ) is Market Vectors Gold
Miners ETF (NYSEARCA: GDX). Shares also surged to new 52-week
highs or at $26.90 well over a double
from its lows earlier in the year. Companies with a market cap
larger than a Billion, like Pretium Resources
Inc. (TSX: PVG) showed their strength as well.
Shares of the company hit fresh 52-week highs of $12.04 after the FOMC meeting or reaching the
2013 price per share highs. From earlier in the year lows, shares
are up 109%.
Shares of the giant gold-focused royalty and stream company
Franco Nevada Corp. (TSX: FNV) increased more
than 2 percent after the Federal Reserve announcement. Shares also
are near 52 week highs. In the recent quarterly financial report,
Franco Nevada Corp. showed a record $132.0 million in revenue, which is a 21%
increase year to year.
On Thursday June 23rd,
Great Britain will vote on whether
or not to leave the European Union, this will be yet another
big Gold Catalyst. Now depending on Brexit decision, it will either
put a damper on Gold prices finally or continue to help companies
in this sector break into even higher 52-week highs. During the
Q&A session, the Federal Reserve Chair, Janet Yellen acknowledged that the upcoming vote
played an important factor on their monetary-policy decision to
keep rates on hold.
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