Gold Prices Surge After Fed Minutes and Geopolitical Tensions

NEW YORK, August 17, 2017 /PRNewswire/ --

Gold prices gained yesterday, while U.S stocks were near flat after the Federal Reserve Minutes suggested a division within the Central Bank regarding sluggish inflation and the strategic path on interest rate hikes. According to a report by MarketWatch, the Central Bank wants to start unwinding its $4.5 trillion asset portfolio. The low inflation readings are a sign of warnings for a few officials, who noted that the Fed might be patient before raising interest rates any further. In addition, political tensions from the Washington D.C. may slow down the President's pro-growth agenda. The political climate in Washington has also increased the demand for gold, as it is a safe-haven asset. Nexus Gold Corp. (OTC: NXXGF), Harmony Gold Mining Co. (NYSE: HMY), Yamana Gold Inc. (NYSE: AUY), Eldorado Gold Corp (NYSE: EGO), B2Gold Corp (NYSE: BTG)

On Wednesday, the president disbanded White House advisory groups after several CEOs stepped down in protest. "The acceleration in gold's gains toward the regular session close was definitely due to the wave of resignations by CEOs from [President's] business council," said Brien Lundin, editor of Gold Newsletter according to MarketWatch. "However, the minutes from the Fed's last meeting also had a dovish tone, and this helped gold to rise even further."

Nexus Gold Corp. (OTC: NXXGF) is also listed on the TSX Venture Exchange under the symbol 'NXS'. The company last month announced that it has entered a letter of intent with Belemyida SA, pursuant to which Nexus will acquire the right to earn up to a 100-per-cent interest in the Rakounga gold property located in Burkina Faso, West Africa.

The 250-square-kilometre Rakounga gold property is contiguous to the company's Bouboulou gold concession. The property borders Bouboulou on the west and south sides and hosts the Bouboulou 1 gold showing, which is the southern extension of the Bouboulou 2 trend. Bouboulou 1 is an active orpaillage with shaft workings that extend down approximately 80 meters.

Following the acquisition of a 90-per-cent interest in the property, Nexus will have the option to acquire the remaining 10-per-cent interest in the property through a cash payment of $1-million (U.S.) with a 1-per-cent net smelter return royalty remaining with the optionor.

"This is a substantial addition to the land package at Bouboulou, effectively making the project almost 300 square kilometers in size. The acquisition allows us to follow the Bouboulou 2 and Pelatanga-Rawema trends to the southwest," said President and Chief Executive Officer, Peter Berdusco. "This addition is important when you consider how this might influence the goal of establishing a resource at Bouboulou. There is significant artisanal activity in this new area, which indicates gold mineralization continues along the established trends for some distance. Our exploration programs will determine to what extent and obviously at what economic level, but we are excited at the potential value this strategic addition brings to the company's growing portfolio. We are looking forward to executing the definitive agreement in the coming weeks."

Harmony Gold Mining Co. (NYSE: HMY) through its subsidiaries, is engaged in gold mining and related activities, including exploration, extraction and processing. The company announced this week a trading statement for the year ended 30th June 2017. According to the statement, Harmony's year-on-year financial performance and cash flow was strengthened by gains recognized on the gold and currency hedges. Headline earnings per share ("HEPS") are expected to be between 20 and 23 US cents per share, which is between 35% and 55% higher than the headline earnings of 15 US cents per share reported for the previous comparable period.

Yamana Gold Inc. (NYSE: AUY) is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions throughout the Americas including Canada, Brazil, Chile, and Argentina. Earlier in July the company reported earnings for the second quarter of 2017. Yamana's total production was 244,607 ounces of gold from the company's six producing mines. Production from the six mines increased by 13% compared to the first quarter of 2017. The Company also produced 1.32 million ounces of silver, representing an increase of 22% compared to the first quarter of 2017, and 29.1 million pounds of copper, representing an increase of 10% compared to the first quarter of 2017.

Eldorado Gold Corp (NYSE: EGO) is a leading intermediate gold producer with mining, development and exploration operations in Turkey, Greece, Romania, Serbia, Canada and Brazil. This July the company announced the successful completion of the plan of arrangement involving Integra Gold Corp. originally announced on May 15, 2017. The Arrangement was approved by the shareholders of Integra at its special meeting on July 4, 2017 and received approval from the Supreme Court of British Columbia on July 7, 2017. Eldorado's President and CEO, George Burns, commented, "This is a very important transaction for Eldorado and we are pleased with the votes of support from Integra shareholders. Eldorado is looking forward to expanding our growing business to Canada. Our experience in building and operating mines, combined with the experience from our new team in Quebec, will enhance our long-term growth profile and value proposition for all stakeholders."

B2Gold Corp (NYSE: BTG) on august 9th announced its operational and financial results for the three and six months ended June 30, 2017. The Company generated net income of $19.3 million ($0.02 per share) in the quarter compared to a net loss of $11.8 million (negative $0.01 per share) in the same quarter last year. Adjusted net income was $12.9 million ($0.01 per share) in the second quarter of 2017 compared to $29.0 million ($0.03 per share) in the prior-year quarter. For the first-half of 2017, consolidated gold revenue was $310.6 million on sales of 251,674 ounces at an average price of $1,234 per ounce compared to $309.1 million on sales of 251,728 ounces at an average price of $1,228 per ounce in the first-half of 2016.

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 three thousand dollars for financial news dissemination and PR services by a third party non affiliate for nexus gold 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.

Media Contact:
info@financialbuzz.com
+1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com