“We might see a slowing of the economy, but inflation may not come down as much as the Fed would like and yet they will be no longer able or willing to raise rates further, and that is a very positive environment for gold,” analyst says.
The new US sanctions expand a previously signed Trump-era executive order to include specific potential restrictions on trade and investment involving Nicaragua, with a particular reference to the gold industry.
ISS on Monday had recommended Turquoise Hill shareholders to vote "against" the deal, joining the Canadian miner's second-largest shareholder Pentwater Capital Management.
The second-largest US steelmaker said Tuesday that it is being hit by higher input costs and maintenance activities, which led to adjusted earnings before items of $436 million in the third quarter, about 50% below analyst estimates.