Fed Hikes Rate Again and Plans to Unwind Balance Sheet; Should Diminish Gold Investment Demand
At its June meeting, the Fed raised the federal-funds target rate 25 basis points to 1% to 1.25%. In total, the central bank has increased the interest rate 50 basis points this year, thus far delivering two of the three increases it had forecast. The rate hike was largely expected, with market-implied probability of 99% the day prior to the announcement. In addition, the Fed announced plans to slowly unwind its nearly $5 trillion balance sheet of bonds built up through quantitative easing. Up t...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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