Does The Fed Want A Weaker Dollar? - Adrian Day

PDAC 2015 continues and Kitco News speaks with Adrian Day to hear what he has to say about gold prices, the strong dollar and mining companies. “Every year there is a theme. The theme definitely now is cutting costs, no question,” he says. Day comments on mining companies’ lack of exploration and how that may hinder the future of the resource sector. “For senior companies to cut their whole exploration departments, and in other cases scale back on exploration, I think is going the wrong way. This is time they should be buying assets,” he says. Looking at some bearish factors for gold – U.S. dollar strength and Fed rate hikes – Day says he doesn’t think the greenback could continue its strength and the Fed may start looking to push it back down. “The dollar strength is beginning to have an impact on the U.S. economy. I think there’s definitely going to be a will on the part of the Fed to try to push the dollar down,” he says. On rates, Day says the longer the Fed waits to raise interest rates, the harder the task will become. Tune in for more of our coverage of the world’s largest mining conference. Kitco News, March 5, 2015. (show less)

PDAC 2015 continues and Kitco News speaks with Adrian Day to hear what he has to say about gold prices, the strong dollar and mining companies. “Every year there is a theme. The theme definitely now is cutting costs, no question,” he says. Day comments on mining companies’ lack of exploration and how that may hinder the future of the resource sector. “For senior companies to cut their whole exploration departments, and in other cases scale back on exploration, I ... (read more)

 
 
PDAC 2015

PDAC 2015
The Prospectors & Developers Association of Canada (PDAC) is best known for its annual convention, bringing together prospectors, developers, geoscientists, consultants, and mining executives, among others. Held in Toronto annually, this event attracts more than 30,000 attendees from more than 125 countries. PDAC is an association that represents the interests of the Canadian mineral exploration and development industry.

 

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