In a week Canadians were transfixed by the sexual proclivities of a former CBC radio disc jockey, it was U.S. Federal Reserve policy and the potential impact on the price of gold which caught the attention of Stockhouse readers.
On Wednesday, the U.S. Federal Reserve signaled that it was wrapping up a key stimulus program dubbed Quantitative Easing that involved massive bond purchases. The purchases will stop at the end of this month.
Quantitative Easing had helped to support higher gold prices because of concerns that the stimulus program would stoke inflation.
However, the end of QE and the talk of an interest rate rise will be supportive of the U.S. dollar and inversely will put downward pressure on gold prices,’’ wrote newsletter writer Bob Kirtley.
As if on cue, gold stocks took a beating Thursday.
Among them,
Yamana Gold Inc. (
TSX: T.YRI,
Stock Forum) lost 17% of its value and
Barrick Gold Corp. (
TSX: T.ABX,
Stock Forum), the world’s leading producer, said it wants to lower its debt by about $3.5 billion to $7 billion.
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Here are some of the other stories that thrilled, shocked, and appalled Stockhouse devotees this week.
Matt Badiali, writing for GrowthStock Wire, explains why tax-loss selling may create opportunities for investors in beaten-down junior mining stocks to buy the juniors for extremely low prices.
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Stockhouse columnist Chris Parry looks at why investors are embracing
Mezzi Holdings Inc. (
TSX: V.MZI, Stock Forum), a rare Venture Exchange-listed fashion stock. What was once CCT Capital Ltd. has transformed into Mezzi, a company dedicated to producing ‘smart luxury’ – luggage and bags that bring a high tech tilt to the fashion world.
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Stockhouse TickerTrax scribe Danny Deadlock takes a close look at
Karnalyte Resources Inc. (
TSX: T.KRN,
Stock Forum). “I’m not banking on a company like Karnalyte to generate big returns in a few months,’’ Deadlock writes. “I’m currently using them to help with capital preservation during rough markets.’’
Shares of
Tekmira Pharmaceuticals Corp. (
TSX: T.TKM,
Stock Forum) and other companies engaged in the fight against Ebola were active last week following reports that a medical aid physician is the first diagnosed case of the deadly virus in New York City.
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Stockhouse clients in the news
Stockhouse tech reporter Gaalen Engen looks at how
SoMedia Networks (
TSX: V.VID,
Stock Forum) is forging a path on the Internet that will enhance the ability of businesses and other organizations to engage with the public through the medium of the visual story.
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Great Lakes Graphite (
TSX: V.GLK,
Stock Forum) lays out its strategy for success in the industrial minerals space.
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Fundamental Applications (
CNQ: C.FUN,
Stock Forum) is advancing its mandate to produce and deliver top-flight mobile entertainment apps with depth. The company has submitted Serum, its socal media app to the iTunes Store pending final approval.
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