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Gold Sector Rallies After a Worse than Expected Jobs Report


News provided by

FinancialBuzz.com

09 Jun, 2016, 16:36 GMT

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NEW YORK, June 9, 2016 /PRNewswire/ --

http://www.FinancialBuzz.com : A weak jobs report last week gives good news and high hopes for safe haven investors even with the likelihood of a rate hike next month from the Federal Reserve. The US employment rate slowed down in May and shows that only 38,000 jobs were added last month. This was substantially the smallest gain since September 2010, and might be a sign of an economic slowdown. The US economy has barely grown in the first quarter of 2016. Yet, these reports do not indicate that the U.S is in trouble economically since occasional slowdown is expected, and economic growth is rarely a strictly upward curve. Direxion Shares Exchange Traded Fund Trust (NYSEARCA: NUGT), Brazil Resources Inc. (BRI.V), Torex Gold Resources Inc. (TXG.TO), Agnico Eagle Mines Ltd. (AEM.TO), Yamana Gold Inc. (YRI.TO).

The unemployment rate decreased to 4.7% in May, the lowest since November 2007, according to the Bureau of Labor Statistics report. This report puts in question on the rate hike the Federal Reserve has been planning to announce.

After the release of the jobs report, shares of the Direxion Shares Exchange Traded Fund Trust (NUGT) climbed over 40%. Some Junior Gold Miners, such as Brazil Resources Inc. (TSX-V: BRI), has continued to trend higher up a whopping 400% on a year-to-date basis. The largest shareholders include, Rick Rule, a legendary resource investor and CEO of Sprott Inc., along with Doug Casey of Casey Research and Marin Katusa, who holds a very successful portfolio in natural resources in recent years.

A bullish movement in the gold sector, has help many beaten down gold companies like Brazil Resources rebound this year. Now many analyst and financial services firms like Cantor Fitzgerald, are coming out with bullish stances on the overall gold sector or as a hedge to global equities. Cantor Fitzgerald currently has a "Buy" rating Brazil Resources Inc.

Brazil Resources Inc. puts their attention on development and acquisition of projects producing gold districts and other mineral properties in Brazil, the United States, Canada, and Paraguay. Shares continue to be one of Canada's top active companies in the gold sector, just this week shares continue to surge higher another 20%.

Torex Gold Resources Inc. (TSX: TXG), shares this week hit a new 52-week high of $2.32 or up 172% from their 52-week low of $.85. Torex Gold mainly focuses on exploration of and development in minerals generally in gold deposits. It holds 100% of the Morelos Gold Property which is roughly 29,000 hectares positioned in Guerrero State, Mexico. Within the area, it consists of the El Limón-Guajes Mine, which began their gold production December of last year, and the Media Luna Project, an advanced stage of exploration, with a remaining 75% uncharted. Since the beginning of this year, the stock has risen 70.63%.

Agnico Eagle Mines Ltd. (TSX: AEM), just yesterday reached a new 52-week high of $65.96. Agnico Eagle is a senior Canadian gold mining company that has produced precious metals since 1957. Its eight mines are located in Canada, Finland and Mexico, with exploration and development activities in each of these countries as well as in the United States and Sweden. The Company and its shareholders have full exposure to gold prices due to its long-standing policy of no forward gold sales. Agnico Eagle has declared a cash dividend every year since 1983

Yamana Gold Inc. (TSX: YRI), also just yesterday hot a 52-week high of $6.77 or a huge contrast from its 52-week low of $1.89. Yamana is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions throughout the Americas including Brazil, Argentina, Chile, Mexico and Canada. Yamana plans to continue to build on this base through existing operating mine expansions, throughput increases, development of new mines, the advancement of its exploration properties and, at times, by targeting other gold consolidation opportunities with a primary focus in the Americas.

For "The Latest Buzz in Financial News", Please Visit: http://www.FinancialBuzz.com

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 branding, marketing and advertising for third parties for disseminating 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 service agreements with the companies which are the subject to the articles posted on the Site for advertising such companies. Financialbuzz.com was not compensated for financial news pr services. 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. We do not undertake to update any of the information on the 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 the 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 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:
Danny A.
info@financialbuzz.com
+1-877-601-1879

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