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For U.S. pricing, BNN Bloomberg uses the front-month futures contract price for a troy ounce of gold on the COMEX division of the New York Mercantile Exchange. The price is a benchmark for investors, according to NYMEX.
For Canadian pricing, BNN Bloomberg converts the spot price of gold into Canadian dollars
Kristina Hooper, chief global market strategist for Invesco, tells BNN Bloomberg that Bitcoin's growing popularity has increased it's correlation to the movements of indices like the S&P, removing some of it's diversification value. She adds that Bitcoin may soon become an ESG taboo due to how much energy it consumes. She recommends investors re-allocate some holdings into other cryptocurrencies and into gold.
John Zechner, chairman and founder of J. Zechner Associates says he's taking some money out of volatile names in growth and tech and adding to positions in gold to help hedge against future shocks after the Q1 earnings optimism ends.
Gold rose as the dollar weakened after dovish rhetoric from the Federal Reserve, which gave no indication a tightening of monetary policy was imminent.
Bill Baruch, president at Blue Line Futures joins BNN Bloomberg to discuss what he has been tracking in commodities lately and what he expects for the week ahead. He said he is bullish on oil once it can work through lockdown threats and an uptick in production.
Jeffrey Christian, managing partner at CPM Group, joins BNN Bloomberg to discuss why Gold prices have been under pressure during the start of 2021. He notes the stock market, and not interest in bitcoin, is driving this move.
Americas Gold and Silver Corp.’s top executive said he’s optimistic a dispute that has shuttered one of its mines in Mexico for about 14 months can be resolved through meetings with Mexican federal cabinet ministers this week.
Ira Epstein, director of Ira Epstein Division of Linn and Associates, joins BNN Bloomberg for a look at commodities in the trading week ahead. He says higher oil prices is a barrier to inflation and argues the level at which crude is trading right now is fair.
For our Gold stocks to watch, we display only stocks from the S&P/TSX Global Gold Index.