Gold Miner Stocks Fall as Gold Investment Demand Wanes Under Fears of a Coming Fed Rate Hike
Gold has remained relatively steady in the low- to mid-$1,300 per ounce range over the past few months, holding onto the massive gains from earlier this year. However, through mid-afternoon Oct. 4, gold has fallen more than 3% to roughly $1,270 per ounce as the U.S. Federal Reserve looks likely to raise rates by the end of 2016. As a result, gold miner stocks have fallen by roughly 10% or more.Based on Fed Fund futures prices, the market is currently pricing in 55% probability of one rate hike ...
Kinross Gold is engaged in the mining and processing of gold and, as a by-product, silver ore and the exploration for, and the acquisition of, gold bearing properties in the Americas, the Russian Federation, West Africa and worldwide. As of Dec 31 2013, Co.'s proven mineral reserves for gold and silver were 1,122 ounces and 1,179 ounces respectively.7,883 7,883 7,883
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