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BMO maintains top precious metal miners in their portfolio

 Metals companies have been on the rise this year as the pandemic has taken its toll on the dollar and investors flocked to precious metals. According to one Canadian Bank, some of the largest gold producers have seen some significant increases in their stock value with this rise. BMO, in their latest client update, still recommend holding the likes of Agnico Eagle, Barrick, Endeavor Mining, Equinox Gold, Newmont, Pan American Silver, SSR Mining, Torex Gold, and Wesdome Gold Mines. The bank’s mining analysts continue to recommend holding senior producers as they maintain their current guidance on the gold and silver price. In the report, the bank stated that they see gold prices averaging above $1,800 an ounce through 2023.Read more at: precious metal miners
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Gold muted as traders keep eye on U.S. dollar

  Gold futures hovered near unchanged Tuesday, a day after getting a boost from a weaker U.S. dollar, as investors kept an eye on prospects for additional stimulus from Washington. Gold for December delivery GCZ20, +0.21% was unchanged at $1,920.10 an ounce on Comex. December silver fell 17 cents, or 0.7%, to $24.39 an ounce. The dollar, as measured by the ICE U.S. Dollar Index DXY, -0.13%, fell Monday and was off 0.1% on Tuesday. A weaker dollar is seen as a positive for gold and other commodities priced in dollars, making them less expensive to users of other currencies. Read more: traders keep eye on U.S. dollar
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The Fed: First test of Fed’s new inflation-friendly policy could come in the spring

  First test of Fed’s new inflation-friendly policy In his speech Monday, Evans repeated that “our work on inflation might not be complete at the time of liftoff.” But Fed policy would remain relatively easy or “accommodative,” he added. This has been a hard sell in the past. “Historically, communicating to the public that an upward march in policy rates is still accommodative has been met with substaintial skepticism and disbelief,” he said. “All in all, I envision substantial communications work ahead. But it can be done,” he said.  Read more at digital profits website.
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