Gold jumps on inflation data

By Staff reporter / November 10, 2021 / www.mining-journal.com / Article Link

Spot gold was worth about US$1,850 an ounce at the time of writing, having risen above $1,865/oz earlier.

US consumer price index data was at 30-year highs, IG market analyst Kyle Rodda said, and followed higher-than-expected China Produce Prices and CPI data.

"Everyone, including central bankers, still appears to be underestimating still the inflation pulse," he tweeted.

"Implied probabilities of Fed rate hikes increased in response to the data.

"But real yields remain deeply negative, suggesting that markets see the Fed remaining a bit behind the curve."

Precious metals producer Fresnillo led gains among mining majors in London, up 3.54%, while gold major Newmont rose 2.52% in New York.

Kinross Gold closed up 3.7% in Canada, before it reported a net loss for the September quarter, mainly due to the temporary suspension of milling operations at Tasiast in Mauritania.

Recent News

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com

Huge quantifiable rise in geopolitical, economic and trade risks

June 23, 2025 / www.canadianminingreport.com

Platinum clearly ahead of palladium for first time in seven years

June 16, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok