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The Zacks Analyst Blog Highlights: Barrick Gold, Newmont Mining, McEwen Mining and Klondex Mines

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For Immediate Release

Chicago, IL – June 07, 2017 – announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Barrick Gold Corporation (NYSE: (ABX - Free Report) Free Report ), Newmont Mining Corporation (NYSE: (NEM - Free Report) Free Report ), McEwen Mining Inc. (NYSE: (MUX - Free Report) Free Report ) and Klondex Mines Ltd. (NYSEMKT: (KLDX - Free Report) Free Report ).

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Here are highlights from Tuesday’s Analyst Blog:

Gold Climbs Amid More World Turmoil

Gold prices are on the rise Tuesday amid turmoil in both Washington D.C. and abroad. Prices of the fail-safe commodity are now heading closer to $1,300 an ounce.

In Washington, backlash surrounding President Donald Trump pulling the U.S. out of the Paris climate agreement currently dominates the news. On top of that, former FBI director James Comey is set to testify in front of Congress on Thursday.

In Europe and the Middle East, uncertainty and tragedy have also helped lead to gold’s jump. The recent string of terror attacks in the U.K. come before Thursday’s parliamentary elections, and just a few days ago, Saudi Arabia, the United Arab Emirates, Egypt, Yemen and Bahrain ended diplomatic and even some commercial ties with Qatar, stating that the small Gulf state sponsors terrorism.

The recent wave of political uncertainty around the world and domestically has pusded gold prices up 1.06% to $1296.30 per ounce on Tuesday. Gold’s recent spike comes as the U.S. dollar begins to dip—the two opposite movements often go hand in hand. Last Friday’s weaker-than-expected jobs report also contributed to today’s movement.

Some of the top performing gold and gold mining stocks also jumped today.

Barrick Gold Corporation (NYSE: (ABX - Free Report) Free Report ) stock popped 3.83% in early afternoon trading on Tuesday. Newmont Mining Corporation (NYSE:(NEM - Free Report) Free Report ) is up 2.32%. Canadian gold mining companies McEwen Mining Inc. (NYSE: (MUX - Free Report) Free Report ) and Klondex Mines Ltd. (NYSEMKT: (KLDX - Free Report) Free Report ) gained 4.41% and 3.25%, respectively. And DRDGOLD Limited skyrocketed 7.06%.

Despite today’s jump, gold sits well below its 52-week high of $1,375.08 per ounce, which it reached last summer. However, the price of gold has slowly climbed, with a few big fluctuations, since the start of the year.

Look for gold prices to keep on fluctuating along with the seemingly constant political and social turbulence in the U.S. and around the world.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release.

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