After a stellar three-month stretch for gold bullion and the stocks of companies that dig it out of the ground, the glitter appears to be coming off the rally in all things gold.
An easing of global recession fears and a nascent rebound in long-term bond yields have taken back some of the gains in gold and gold equities through an otherwise ascendant summer.
As of Wednesday, gold prices were higher than US$1,550 an ounce for the first time since 2013, while the group of gold stocks within the S&P/TSX Composite Index was up by more than 50 per cent on the year. In the last two trading days of the week, however, Canadian gold stocks declined by 8.1 per cent, while spot prices declined to US$1,507. Continue Reading →