welcome back to our weekly update I'm Charlotte McLeod with the investing News Network and I'm here to give you a quick look at our top stories for the week [Music] the gold price continued to spend time below the 2000 per ounce mark this week as Market Watchers wait for the latest move from the U.S federal reserve the FED will meet next week from June 13th to 14th and the question of whether it will hike again or paused continues to make headlines we'll have to wait and see although it's


worth noting that the Bank of Canada raised its overnight rate by 25 basis points on June 7th the increase was the first since the Canadian Central bank's January pause for those wondering where the gold price is heading I recently heard from Chris Temple of the national investor who shared the three factors he thinks we need to see for a rise the first is a pivot from the fed and by that he means a true pivot not a pause let's listen to Chris explain the other two elements that need to happen


you need to have the economy bogged down significantly more as the FED pivots and starts printing money all right because if you go back to 2008 9 and 10 for all of the quantitative easing for taking interest rates to nothing that Bernanke did back then and all the rest there was no traction in the economy so that was why a lot of people correctly looked at the situation and said all right um we're they're printing all this money it's not resurrecting real estate yet you know didn't for quite a while we're


helping the economy out it's just a lot of extra money out there demand still stinks sold by the process of elimination gold is going to benefit from this type of thing and it did and number three and it's kind of part of number two you need to close off other avenues for investors all right because investors basically have had other things to play with last year gold had a decent year because except from for a couple other Commodities stocks generally had a lousy year I mean the s p was down 20 percent


the NASDAQ was down by a third you know they both had big rallies this year uh so to me the fact that gold has not collapsed is a glass half full story still even if it's not quite ready to take off Chris also shared his thoughts on uranium's compelling fundamentals saying it's the single best story he can see right now I'll leave the link to the full interview below as we wrap up I want to take a look at the wildfires that are affecting Quebec as of June 7th about 150 wildfires were


active in the province and mining companies were taking precautions at their operations according to Reuters just over a dozen firms had enacted various measures including suspending activities and evacuating osisco mining CEO John burzinski said wildfires happen every summer but the ones taking place right now are earlier and more extensive than usual the company confirmed on June 5th that its withdrawn staff from its windfall project but said all Personnel are safe and facilities are secure at this point no companies anticipate


material impacts at their projects and minds but the community will be watching closely as the situation progresses in Quebec as well as Canada the country is reportedly set for its worst ever Wildfire season that's all for this week if you like this video make sure you subscribe to our Channel and turn on notifications so you don't miss future updates and interviews you can also follow us on social media or click below for our report or any article mentioned in this video we'll see you next time


thank you