Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Gold Rises Higher as US Dollar Dips on Looming Interest Rate Hike

T.IMG, T.K, T.NG, T.ABX

FinancialBuzz.com News Commentary

PR Newswire

NEW YORK, June 1, 2017 /PRNewswire/ --

Yesterday, Gold edged higher as the dollar fell. Geopolitical tensions aided the yellow metal in the midst of market uncertainties. Although gold was headed towards its first monthly drop since December, fears of an interest rate hike next month by the Fed has heightened its value. Dollar losses were controlled as U.S. consumer spending and inflation data released Tuesday pointed to an increased domestic demand that may allow the Federal Reserve to raise interest rates next month. "The market has been over-enthusiastic in terms of the weakness (seen in gold). Once the rate hike happens, people will focus on political uncertainty and on the physical support (for gold)," said Hamza Khan, head of commodities strategy at ING. Kenadyr Mining Holdings Corp. (OTC: KNDYF), IAMGOLD Corp. (NYSE: IAG), Kinross Gold Corp. (NYSE: KGC), NovaGold Resources Inc. (NYSE: NG), Barrick Gold Corp. (NYSE: ABX)

Adam Koos, President of Wealth Management Group said, "Gold investors have been watching the stock market rally, which has run so high for so long, and they're eyeballing the Fed agenda, coupled with POTUS related news and the fact that we're living in the midst of the seasonally-weak months of the year for the DJIA and S&P 500 SPX."

Kenadyr Mining Holdings Corp. (OTC: KNDYF) announced last week that, "Drilling at the south zone of Kenadyr Mining (Holdings) Corp.'s 100-per-cent-owned Borubai license in the Kyrgyz Republic has intersected widespread gold mineralization, including 40 metres at 6.17 grams per tonne gold. The south zone is directly adjacent to Zijin Mining Group Co. Ltd.'s Taldy Bulak Levoberejnyi mine deposit, currently in production. Kenadyr Mining Holdings Corp. is listed on the TSX Venture Exchange under the ticker symbol KEN.

Initial drilling was designed to intersect an area which was previously drilled by the Soviets between 1970 and 1990, and which intersected significant gold mineralization. The current drill hole provides support for the validity of the historical Soviet results and indicates that widespread gold mineralization may exist on Kenadyr's license directly adjacent to (within 100 metres of) the TBL mine.

The south zone is open in three directions and to depth, and there are strong indications that it connects to the TBL deposit. Core recovery is greater than 95 per cent, and all intervals have been assayed using fire assay methods at an internationally accredited laboratory (ALS Global). The hole has reached its target depth of 850 metres, and the remainder of the hole is being split by diamond saw and prepared for assay…

Kenadyr is in a strong position having a robust balance sheet, no debt nor significant payments owing, and a supportive institutional shareholder base. The management team has extensive in-country operational experience and merger and acquisition expertise.

Dr. Alexander Becker, Kenadyr's Chief Executive Officer, states, "Partial results from our initial 2017 drill hole at Borubai have exceeded our expectations. Based on the geometry of the adjacent TBL orebody, it is the corporation's interpretation that these intersections are close to true widths. Subject to obtaining additional drill results, the corporation believes that the mineralization encountered in our initial drill hole validates and supports the findings reported in historic drilling, and indicates that the mineralization being mined at the adjacent TBL mine may continue onto Kenadyr's Borubai license."

IAMGOLD Corp. (NYSE: IAG) is a mid-tier mining company with four operating gold mines on three continents. A solid base of strategic assets in North and South America and West Africa is complemented by development and exploration projects and continued assessment of accretive acquisition opportunities. On May 15th, IAMGOLD provided an update from its 2017 infill drilling program at the Saramacca project, located 25 kilometres southwest of its Rosebel Gold Mine ('RGM') in Suriname. The current phase of the 2017 infill delineation drilling program is now complete with 113 diamond drill holes totaling approximately 19,600 metres.  Assay results have been received from 78 drill holes totaling 14,166 metres, including 49 drill holes totaling 8,158 metres reported herein (see previous news release dated March 29th, 2017). Assay results from the remaining drill holes are expected in June and will be reported once they are validated and compiled.

Kinross Gold Corp. (NYSE: KGC) is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Kinross' focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining. On May 18th, Kinross Gold announced that it has entered into an agreement to acquire an approximately 19.9% interest in White Gold Corp. by selling its 100% interest in the White Gold exploration project in the Yukon Territory to the company. "We look forward to working with Agnico Eagle and White Gold Corp. to support the pursuit of quality development opportunities in this highly prospective and largely underdeveloped district," said J. Paul Rollinson, President and CEO of Kinross Gold. "This investment will allow the three companies to pool their expertise together to strengthen their position in this excellent mining jurisdiction."

NovaGold Resources Inc. (NYSE: NG) is a well-financed precious metals company focused on the permitting and development of its 50%-owned Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 39 million ounces of gold in the measured and indicated resource categories, inclusive of proven and probable reserves (541 million tonnes at an average grade of approximately 2.2 grams per tonne), Donlin Gold is regarded to be one of the largest, highest grade, and most prospective known gold deposits in the world. On April 3rd, NovaGold announced its first quarter financial results and updates for its flagship 50%-owned Donlin Gold project in Alaska and its 50%-owned Galore Creek copper-gold-silver project in British Columbia. With over $98 million in its treasury as of February 28th, 2017, NovaGold has ample funds to complete permitting at Donlin Gold.  

Barrick Gold Corp. (NYSE: ABX) aims to cultivate a high-performance culture defined by the following principles: a deep commitment to partnership, consistent execution, operational excellence, disciplined capital allocation, and continual self-improvement. We are obsessed with talent, and seek out fresh perspectives from other industries, challenging ourselves to think differently as we transform Barrick into a leading 21st century company. On April 6th, Barrick Gold announced that it has entered into a strategic cooperation agreement with Shandong Gold Group Co., Ltd. ('Shandong'), the leading underground mining company in China, based in Jinan, Shandong province.

Please Sign Up Now at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. 'The Latest Buzz in Financial News'
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia 
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz 
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz 
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com    
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and pr services by a third party non affiliate for Kenadyr mining holdings corp. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com .

For further information: 

Media Contact:
info@financialbuzz.com
+1-877-601-1879
http://www.FinancialBuzz.com


SOURCE FinancialBuzz.com

Tags:


Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today