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In last trading session, Franco-Nevada Corporation (NYSE:FNV) saw 605,126 shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $147.88 trading at $1.75 or 1.2% at ring of the bell on the day assigns it a market valuation of $28.31 Billion. That closing price of FNV’s stock is at a discount of -12.33% from its 52-week high price of $166.11 and is indicating a premium of 30.21% from its 52-week low price of $103.21. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 737.88 Million shares which gives us an average trading volume of 777.24 Million if we extend that period to 3-months.
May 7, 2021
A pair of gold miner ETFs from Direxion might be the way to tail legendary investor Sam Zell’s bet on gold, given current inflationary pressures.
As the U.S. economy starts to re-open amid the Covid-19 vaccine deployment, the cost for goods and services could be on the rise. This, in turn, could weaken the dollar while stimulus money is already being pumped into the economy.
It could be tangible assets like gold that could see strong demand. The precious metal is one of the ways investors can shield themselves against a rising tide of inflation.
“Obviously one of the natural reactions is to buy gold,” said Zell in a Bloomberg Television interview. “It feels very funny because I’ve spent my career talking about why would you want to own gold? It has no income, it costs to store. And yet, when you see the debasement of the currency, you say, what am I going to hold on to?”
The USD Index let out a roar heard across all markets. The king of the financial jungle arrived, along with the greenback’s largest single-day gain. Just as the African landscape sometimes needs to show the strongest of its inhabitants, so does the less remote but equally ferocious financial environment. This time, the USDX seems to have won the fight – its fangs and claws turned out to be the sharpest, and so are the rallies. There is nothing left for gold and its acquaintances than to run through the forest… run. Sometimes, even jackals need to find shelter to lick their wounds in patience, waiting for a better time to come back to fight. However, they will come back eventually – they always do.