Crypto and Gold Miners Sell-Off as Hot Jobs Data Cement September Fed Hike
Gold miners fall 1.9% and Bitcoin proxies sell off after August payrolls beat by 106,000, pushing September Fed hike odds to 60.2% from 49.4%.
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Scotiabank Maintains Sector Perform on Franco-Nevada, Lowers Price Target to $274
Scotiabank analyst Tanya Jakusconek maintains Franco-Nevada (NYSE:FNV) with a Sector Perform and lowers the price target from $290 to $274.
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Shares of precious metal-related companies are trading higher amid a rise in gold and silver in response to falling Treasury yields and a weakening dollar. Fed Governor Waller's comment that he is inclined to support holding interest rates steady may contribute to the metals' rally.
Shares of precious metal-related companies are trading higher as gold prices continue to rise. The U.S. Treasury's recent expansion of its debt repurchase program weighed on yields and dollar strength.
Shares of precious-metals-related companies are trading higher alongside gains in gold and silver prices as Treasury yields and the U.S. dollar decline following the Treasury Department’s announcement that it would double the size of liquidity-support buyback operations for longer-dated bonds.