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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Jefferies Initiates Coverage On Iamgold with Buy Rating, Announces Price Target of $24
Jefferies analyst Fahad Tariq initiates coverage on Iamgold (NYSE:IAG) with a Buy rating and announces Price Target of $24.
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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 yields and dollar strength flatten. Investors may be turning to safe-haven assets due to inflation concerns and escalating conflict in the Middle East.
Shares of precious metal-related stocks are trading lower as climbing bond yields and August's economic data raise inflationary concerns and interest-rate hike expectations. A slightly stronger dollar may contribute to the a selloff of the commodity.