text saying "top stories this week"

Catch up and get informed with this week's content highlights from Charlotte McLeod, our editorial director.

Top Stories This Week: Gold's Path After Tapering News, Talking Uranium with Sprott youtu.be

The US Federal Reserve was in focus in the gold space this past week as investors waited for comments from its latest meeting, held from Tuesday (November 2) to Wednesday (November 3).

The Fed was anticipated to announce plans to ease its bond-buying program, and that is in fact what happened.

The central bank is now buying US$120 billion worth of bonds a month, but said that in the coming weeks it will start cutting that amount by US$15 billion a month. If it keeps up that pace, bond buying would end in June 2022.


Speaking directly after the news, Gareth Soloway of InTheMoneyStocks.com told me that this flexibility from the Fed is something the market loves because it indicates that it can still receive support if needed. He also shared his thoughts on the path forward, noting that once tapering is done the Fed can start to increase interest rates again.

"(The US Federal Reserve is) leaving the door open for adjustments to the taper. They can stop, they can restart, they can change the amount. And the market loves that. Anything where the Fed is flexible in case the markets dip — that's the way the market views it" — Gareth Soloway, InTheMoneyStocks.com

Going over gold's reaction to the Fed's news, Gareth said it was down quite sharply before the statement, but then lifted higher once the central bank actually spoke. He remains very bullish on gold over the long term, and said that's partially because the yellow metal is starting to wake up to inflation.

"I think again you should look for a move higher into year end, but I'm still looking at the charts for a breakout. The breakout, once that occurs, will catapult gold up sharply. Until then, I think you just trail neutral to higher" — Gareth Soloway, InTheMoneyStocks.com

With the Fed in mind, we asked our Twitter followers this week if they think the central bank will be able to stay on track with its tapering plan. By the time the poll closed, the vast majority of respondents had voted "no."

We'll be asking another question on Twitter next week, so make sure to follow us @INN_Resource or follow me @Charlotte_McL to share your thoughts.

Although gold has been in the spotlight this week, I also want to check in on uranium, which continues to attract investor interest. I had the chance to speak with John Ciampaglia of Sprott Asset Management, who shared his thoughts on the market, as well as the role of the Sprott Physical Uranium Trust (TSX:U.UN).

One of my key takeaways was about utilities companies. It's notoriously difficult to get a handle on what these entities are doing, and right now discussions are centered on when they may start contracting. That still remains to be seen, but John explained that they're definitely paying attention.

"Everyone is looking for this new contract cycle — when is it going to pick up, where are these deals going to get done in terms of term and price? Everyone's looking for these signals in terms of where the longer-term price of uranium is going to drift to" — John Ciampaglia, Sprott Asset Management

At the moment, utilities are trying to understand the Sprott trust and how it's changed the uranium market, as well as how the landscape has been impacted given the recent increase in prices.

"After summer holidays the pickup in calls we received from utilities definitely amplified. And I think a lot of them are trying to figure out how exactly how the uranium market has changed, and not just because of the Sprott trust — but I think even prior to that it was building" — John Ciampaglia of Sprott Asset Management

The interview covers quite a bit of ground, and if you're interested in uranium you should definitely check out when we publish it in full next week .

Want more YouTube content? Check out our YouTube playlist At Home With INN, which features interviews with experts in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.

And don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Featured
Kirkland Lake Gold Ltd. today reported that the Company has been advised by the Environmental Protection Authority Victoria of the Victorian Government that the EPA has determined that low-level frequency noise is being emitted by the Fosterville Mine. The EPA has provided the Company with a Notice to Investigate and an Improvement Notice focused on the low-level frequency noise which it believes is emanating from ...

Kirkland Lake Gold Ltd. (" Kirkland Lake Gold " or the " Company ") (TSX:KL) (NYSE:KL) (ASX:KLA) today reported that the Company has been advised by the Environmental Protection Authority ("EPA") Victoria of the Victorian Government that the EPA has determined that low-level frequency noise (in the range of 16-20 Hz) is being emitted by the Fosterville Mine.

The EPA has provided the Company with a Notice to Investigate and an Improvement Notice focused on the low-level frequency noise which it believes is emanating from the mine. Included within the notices are stated timelines covering a period of just over two months for investigating and resolving the issue of low-frequency noise as well as reporting to the EPA on modifications introduced and new testing completed. In addition, the EPA has indicated to the Company that additional action may be taken by the EPA that could result in restrictions on the use of certain equipment, primarily surface ventilation fans and surface drill rigs in the south portion of the mining lease, during the night, while the remediation period is completed. The potential impact of such measures on the Fosterville operations, should they be introduced, is currently being investigated.

Management at Fosterville has been aware of concerns expressed by residents in recent months regarding low-level frequency noise and has taken steps to evaluate and address these concerns. As part of these efforts, Fosterville commissioned two independent studies on noise levels produced by the mine. The studies were completed by accredited noise and acoustic specialist firms based in Australia, with both studies concluding that all mine generated noise was within regulatory limits.

read more Show less
Kirkland Lake Gold Ltd. today announced that at a special meeting of shareholders held earlier today the Company’s shareholders voted in favour of the arrangement resolution approving the proposed merger of equals whereby all of the issued and outstanding shares of the Company will be acquired by Agnico Eagle Mines Limited for common shares of Agnico Eagle in a merger of equals for consideration per Kirkland Share ...

Kirkland Lake Gold Ltd. (" Kirkland Lake Gold " or the " Company ") (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that at a special meeting of shareholders held earlier today (the " Meeting "), the Company's shareholders voted in favour of the arrangement resolution (the " Kirkland Arrangement Resolution ") approving the proposed merger of equals whereby all of the issued and outstanding shares of the Company (the " Kirkland Shares ") will be acquired by Agnico Eagle Mines Limited (" Agnico Eagle ") for common shares of Agnico Eagle (the " Agnico Shares ") in a merger of equals for consideration per Kirkland Share equal to 0.7935 of an Agnico Share (the " Arrangement ").

186,840,773 Kirkland Shares, representing approximately 70.85% of the issued and outstanding Kirkland Shares as at the record date, were voted at the Meeting. The Kirkland Arrangement Resolution was approved by 150,681,106 Kirkland Shares or approximately 80.65% of votes cast by Kirkland Lake Gold shareholders either in person or represented by proxy at the Meeting. The report of voting results will be made available under the Company's profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov .

read more Show less
Agnico Eagle Mines Limited is pleased to announce that at a special meeting of shareholders held earlier today Agnico Eagle shareholders voted overwhelmingly in favour of the resolution approving the issuance of Agnico Eagle common shares in connection with the proposed merger with Kirkland Lake Gold Ltd. by way of a plan of arrangement under the Business Corporations Act . The resolution was approved by ...

Agnico Eagle Mines Limited (TSX: AEM) (NYSE: AEM) (" Agnico Eagle ") is pleased to announce that at a special meeting of shareholders held earlier today (the " Meeting "), Agnico Eagle shareholders voted overwhelmingly in favour of the resolution approving the issuance of Agnico Eagle common shares in connection with the proposed merger with Kirkland Lake Gold Ltd. (" Kirkland Lake Gold ") by way of a plan of arrangement under the Business Corporations Act ( Ontario ) (the " Merger ").

The resolution was approved by approximately 99.86% of the votes cast by Agnico Eagle shareholders at the Meeting, with a shareholder turnout of 69.62%. Detailed voting results for the resolution are as follows:

read more Show less

MARKETS

Markets
TSX21164.47+38.57
TSXV953.71+9.66
DOW35188.96+289.62
S&P 5004662.26+67.64
NASD15777.92+286.27
ASX7279.30-128.00

COMMODITIES

Commodities
Gold1782.12-13.13
Silver22.78-0.52
Copper4.34+0.05
Palladium1791.50+7.00
Platinum958.58-21.43
Oil69.48+1.33
Heating Oil2.14+0.05
Natural Gas4.84-0.63