Gold Holds Steady Even as Fed Announces Another Rate Hike With More to Come This Year
At its June meeting, the U.S. Federal Reserve once again raised the federal-funds target rate 25 basis points to a range of 1.75%-2%. In addition, the majority of officials at the central bank now expects four rate hikes in 2018, compared with an even split between three and four hikes at the March meeting. The June rate hike was largely expected by the market, as options prices implied a more-than 91% probability prior to the announcement. Furthermore, the market appears largely unfazed by an a...Agnico-Eagle Mines is a gold mining company with mining operations in Canada, Mexico and Finland. Co. earns a proportion of its revenues from the production and sale of gold in both dore bar and concentrate form. The remainder of revenue and cash flow is generated by the production and sale of byproduct metals. The revenue from byproduct metals is mainly generated by production at the LaRonde mine in Canada (silver, zinc, copper and lead) and the Pinos Altos mine in Mexico (silver).
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