Weekly Roundup

TSX gains ground on stimulus bill and higher gold prices

March 27, 2020

Higher crude and gold prices alongside Canada’s newly announced stimulus package saw the Toronto Stock Exchange’s S&P/TSX composite index rise 29.68 points, or 0.24%, at 12,600.76 at 10:07 a.m. ET (14:07 GMT). The TSX reacted similarly to other equity markets following news of a $2 trillion package approved by U.S. politicians to alleviate the economic impact of the virus outbreak...Read More

Gold stumbles on its continued upward trajectory

March 14, 2020

Gold slipped more than 4 per cent to $US1,575.20 per ounce as investors attempted to offset losses elsewhere. Analysts view this as an interim correction given gold prices’ steady increase since the start of 2020. Most recently, gold price rose above $1,700 an ounce on Mar 8 — at levels last seen in December 2012. Russia leaving OPEC, Saudi Arabia lowering oil prices and the WHO dec...Read More

Junior Gold Miners benefit from TSX slip amid coronavirus fears

March 09, 2020

Canada's main stock index saw a dip on Thursday, as investors grow concerned over the economic impact of the coronavirus. As a result, Canadian junior gold miners benefited from safe-haven demand. At 9:49 a.m. ET (1449 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 206.48 points, or 1.23%, at 16,573.05. The materials sector, which includes precious and base metals...Read More

Gold Continues to Rise, Set to Test $1,700 Resistance

March 02, 2020

Mounting fears about the coronavirus becoming a global pandemic are continuing to fuel investors’ interest in gold as a safe-haven asset to counter the uncertainty. This, in turn, sent gold prices soaring to seven-year highs at the start of the week. In such a risk-off climate, gold prices surged up 14 out of the past 16 days through February 25, setting itself up to test resistance at $1,7...Read More

Gold Stocks Soar As Price Hits 7-Year High

February 22, 2020

Thursday saw the price of gold reaching its highest level since early 2013. As a result, investors’ interest in gold stocks soared as they flocked towards Canadian junior gold miners to diversify their portfolio. Canada’s main stock index TSX also touched a new high on Wednesday, boosted by gains in energy and gold stocks. The materials sector, which includes precious and base metals...Read More

Prices rebound as gold stocks surge on higher gold sales

February 14, 2020

The trading session on Thursday saw gold prices reaching towards the $1,580 level – another strong performance in a series of consistent results since the start of the year. The surge in gold prices of 0.7% on Thursday comes amidst mounting concerns over an increase in the number of new coronavirus cases, fuelling demand for safe-haven assets. As a result, major US and European stock indexes...Read More

Gold prices rally as coronavirus fears hit oil prices

February 09, 2020

At the start of this week’s Friday, Canada’s main stock index fell, weighed down by losses in energy shares. Oil prices continue to take a hit over rising worries over the potential economic damage from a coronavirus outbreak. At the same time, gold continues to gain momentum as investors are plowing into the yellow metal as a safe haven in times of increasing economic uncertainty. La...Read More

Gold stabilizes as U.S. corporate results outweigh virus risks

February 03, 2020

On Thursday, Canada's main stock index TSX registered a small increase on strong U.S. corporate earnings and improved risk appetite in the midst of ongoing threats from a coronavirus pandemic. Gold climbed to a near three-week high on Monday as growing concerns over the economic fallout of the coronavirus outbreak saw investors looking for safe havens. Spot gold was up 0.4% at $1,577.31 per ounce...Read More

As TSX slips from record high, gold stocks weigh

January 26, 2020

Canada's main stock index saw it last session end in gains on Tuesday, as energy and gold stocks fell following an increasing global panic due to concerns over a virus outbreak in China. Markets worldwide fell with the materials sector losing 1.3% as gold futures falling 0.2% to $1,555.1 an ounce. The price of gold lost 0.15% on Tuesday, extending its short-term consolidation. This comes after la...Read More

Gold stocks post new records after U.S. seals trade accords with China, Mexico and Canada

January 20, 2020

Gold stocks and futures for Canada's main stock index rose on Friday following data showing the Chinese economy stabilizing. The Toronto Stock Exchange's S&P/TSX composite index closed up 0.40% at 17,484.77 on Thursday. As a result, Canada's main stock index rose to another all-time high on Friday. The materials sector, which includes precious and base metals miners, gained 0.1% as gold price...Read More

A Record Week for Gold as Iran Tension Eases

January 13, 2020

The first week of January of the new 2020 kicked off with a 330-point rise in the Dow Jones industrial average. The S&P 500 climbed nearly 0.7%, while the Nasdaq gained 0.8%. The Toronto Stock Exchange's TSX rises 0.39 percent to 17,235.57. Investors and analysts have been closely monitoring the stock market as both gold and oil are skyrocketing higher on account of the building global tensio...Read More

TSX marks New Year with a strong start

January 04, 2020

Canada's composite index TSX started 2020 with gains as stocks rose to all-time highs on Thursday as the strong rally in 2019 was set to continue in the first trading day of the New Year. The latest performance of the index is a mark of a strong upcoming year, possibly the best since the global financial crisis, powered by returning confidence in the global economy in the wake of an imminent U.S.-...Read More

TSX hits record high as USMCA deal passes

December 29, 2019

Canada’s main stock index the TSX hovered below record highs on Monday, following comments from U.S. President Donald Trump’s that a preliminary trade deal with China would be signed “very shortly”. On Friday, Canada’s main stock index hit a record high after the U.S. House of Representatives approved a new North American trade deal. As a result, gold price - which t...Read More

Gold consolidates recent gains as markets roll into Christmas

December 21, 2019

As markets are rolling into the holiday season, Friday saw Canada’s main stock index edge higher. This comes right after news from China about cancelling tariffs, which is scheduled to take effect on Sunday and an agreement on the first phase of a trade deal between US and China. At 09:47 a.m. ET (14:47 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 11.06 points...Read More

Gold Stocks Expected To Soar After Comments From Trump

December 09, 2019

Gold rallied about 1% in the past week, closing at a nearly one-month high of $1,484 an ounce on Tuesday. As a result, the majority of gold stocks shot up. Leading the way were Harmony Gold (NYSE:HMY), Sibanye-Stillwater (NYSE:SBGL), and Coeur Mining (NYSE:CDE), which all rallied around 10% on the same day. The TSX posted nine new 52-week highs and no new lows. 2019 has been an eventful year for...Read More

Gold stocks continue to climb as TSX notches fourth straight record

December 02, 2019

Canada’s main stock index rose to a record high on Thursday, largely due to gains from the materials sector. The materials group, including precious and base metal miners, added 0.6 percent. Gold was up 0.3% at 1,458.1 an ounce, which led to an increase in value of gold stocks as well. The Toronto Stock Exchange’s S&P/TSX composite index rose 13.95 points, or 0.1%, to 17,114.52. I...Read More

Gold Stocks' Winter Rally?

November 23, 2019

Junior gold miners’ stocks have enjoyed a surge in 2019, blasting higher after gold’s first bull-market breakout seen in several years. Following a powerful summer rally, some of the Canadian miners’ stocks were really overbought, which resulted in a correction to rebalance exuberant sentiment. That grinding consolidation lower set them up nicely for their winter rally – th...Read More

Gold stocks rally for a stronger week on a fear of global slowdown

November 17, 2019

It has been a dynamic year for the Canadian gold mining sector and especially for junior gold miners. As the price for gold has started to rally due to a number of factors in the global economy and financial markets, gold mining stocks are coming out as some of the best performers. In the past months, more investors have been rushing to store their capital in safe-haven assets, while trying to bea...Read More

Gold recoups some of recent losses on White House pushback

November 09, 2019

Gold continues to lead metal-sector outperformance within a challenging broader commodity market, in the past week. Although gold prices dropped Thursday to post their lowest finish in three months and largest weekly percentage decline in more than a year, gold futures settled higher Wednesday, a day after the precious metal lost its grip on the psychologically significant $1,500 mark amid gains i...Read More

Junior Mining Equities on Downtward Trend Admist A Rising Gold Price

November 01, 2019

Last week saw the junior gold miners continue their downward trend despite gold prices demonstrating further gains in the metals space. The yellow metal continues to hover around the US$1,500 per ounce level for almost six weeks, with some volatility during this period that saw prices rise and fall briefly to US$1,535 and US$1,471 per ounce, respectively. The stable trend in the price of gold and...Read More