NEW YORK, June 16, 2016 /CNW/ - http://www.FinancialBuzz.com : The Federal Reserve announced their monetary-policy decision this week and kept interest rates unchanged, but signaled for two possible rate increases by the end of this year. The Federal Reserve indicated that it expects the U.S. job market to strengthen after a recent slowdown, but also stated that economic growth is expected to slow over the next couple of years. As a result, the Fed's projected a lower rate hike path in 2017 and 2018. Market Vectors Junior Gold Miners ETF (NYSEARCA: GDXJ), Market Vectors Gold Miners ETF (NYSEARCA: GDX), Brazil Resources Inc. (BRI.V), Pretium Resources Inc. (PVG.TO), Franco Nevada Corp. (FNV.TO)
In addition, with no Federal Reserve rate hike looming or a near and clear date set, the U.S. Dollar weakened and Gold prices began to surge. In the beginning of the year, the global investment community stayed far away from Gold as price per ounce dropped below $1100. Many Gold enthusiast always predicted a big rebound and many are now pounding their chest as Gold prices are smashing through $1300/oz.
Market Vectors Junior Gold Miners ETF (NYSEARCA: GDXJ) jumped about 5% intraday to fresh new 52-week high or $41.36/share. Alongside gold prices rebounding, Junior gold mining companies are quite popular this year. One of the most popular and active companies in this sector is Brazil Resources Inc. (TSX-V: BRI). Shares are up a whopping 550% between its 52-week low of $.38 this year, to recently hitting a fresh new 52-week high of $2.49.
Brazil Resources Inc. is mineral exploration company with a focus on the acquisition, exploration and development of projects in Brazil, United States, Canada and other regions of the Americas. Brazil Resources is advancing its Whistler Gold Project, located in Alaska, United States, its São Jorge and Cachoeira Gold Projects, located in the State of Pará, northeastern Brazil, and its Rea Uranium Project, located in the western Athabasca Basin in northeast Alberta, Canada.
The adult version of (NYSEARCA: GDXJ) is Market Vectors Gold Miners ETF (NYSEARCA: GDX). Shares also surged to new 52-week highs or at $26.90 well over a double from its lows earlier in the year. Companies with a market cap larger than a Billion, like Pretium Resources Inc. (TSX: PVG) showed their strength as well. Shares of the company hit fresh 52-week highs of $12.04 after the FOMC meeting or reaching the 2013 price per share highs. From earlier in the year lows, shares are up 109%.
Shares of the giant gold-focused royalty and stream company Franco Nevada Corp. (TSX: FNV) increased more than 2 percent after the Federal Reserve announcement. Shares also are near 52 week highs. In the recent quarterly financial report, Franco Nevada Corp. showed a record $132.0 million in revenue, which is a 21% increase year to year.
On Thursday June 23rd, Great Britain will vote on whether or not to leave the European Union, this will be yet another big Gold Catalyst. Now depending on Brexit decision, it will either put a damper on Gold prices finally or continue to help companies in this sector break into even higher 52-week highs. During the Q&A session, the Federal Reserve Chair, Janet Yellen acknowledged that the upcoming vote played an important factor on their monetary-policy decision to keep rates on hold.
For "The Latest Buzz in Financial News", Please Visit: http://www.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.
For further information: Media Contact: Danny A., email@example.com, +1-877-601-1879