Quebec Gold Explorer Jumps 16% on C$57M Strategic Backing

Gold prices fell 1% to $4,649.10/oz after a hotter-than-expected US inflation report, retreating from a three-month high. Spot gold is still up 14% in August. Silver also declined. The Fed's preferred inflation gauge, PCE, rose 3.7% YoY in July, above forecasts. Investors await Fed Chair Warsh's speech at Jackson Hole for further rate guidance. Gold's recent rally was driven by US Treasury bond market intervention and ETF inflows. Miners like Agnico Eagle and AngloGold have seen significant gain

Zacks Equity Research highlights Carter's (CRI) as a Bull of the Day, citing a strong Q2 earnings beat, raised guidance, and positive analyst revisions. The company's stock has seen a pullback, presenting a potential buying opportunity. Agnico Eagle Mines (AEM) is named Bear of the Day due to falling estimates, rising costs, and a stock price that may have already priced in gold's rally. Additionally, Zacks provides analysis on Rocket Companies (RKT), UWM Holdings (UWMC), and PennyMac Financial

Agnico Eagle Mines (AEM) reported Q2 EPS of $3.05, beating estimates, but revenue missed slightly. The company raised capex guidance and lowered production forecasts. Analyst estimates have declined over the past 60 days. AEM's stock has rallied with gold prices, but rising costs and softer production may pose risks.

Agnico Eagle Mines (AEM) is investing $57.2M in Radisson Mining (RDS) to revive the O’Brien gold mine in Quebec. Agnico will acquire a 10.5% stake at a 6% premium. Radisson’s shares surged 21%. The project has a preliminary economic assessment valuing it at $871M after-tax NPV.

Gold prices rose 2.8% to $4,489.40 per ounce, the highest since May 29, after the U.S. Treasury announced increased buybacks of longer-dated debt, lowering Treasury yields and weakening the dollar. Silver also gained 2.8% to $65.734. The 30-year Treasury yield fell 9 basis points to 5.19%, its biggest one-day decline since October. Gold miners like Hycroft Mining and Hecla Mining saw significant gains. TD Securities noted that Treasury liquidity support and stagflation concerns could boost gold

U.S. Treasury announced it would at least double liquidity support buyback operations for 10- to 30-year securities. Gold prices rose 4% to $4,518.90, while gold miners like Agnico Eagle Mines (AEM) and Barrick Mining (B) saw even larger gains. The dollar index fell 0.78%, and 10-year Treasury yield dropped 6 basis points to 4.65%.