Union files complaint against Orla Mining, alleging violation of worker rights in Mexico
The complaint is only the second of its kind made from Canada using CUSMA’s RRM process since the trade deal came into force in 2020.
Gold prices scored a two-week high Wednesday, pushed by:
1. Subdued inflation figures in the U.S., which cracked expectations of a December interest rate hike.
2. The disclosure of positive data around China’s economy, which grew by 6.7% in the third quarter, year-on-year. The Asian giant’s retail sales also grew in September, in this case by 10.7% compared with the previous year, and its industrial production was up as well, by 6.1% in September year-on-year.
As a result of these developments, December Comex gold was last up $7.40 an ounce at $1,270.30. December Comex silver was last up $0.017 at $17.655 an ounce.
Nevertheless, Goldman Sachs’ experts say that gold prices need to climb past the $1,303-an-ounce level before anyone can say the precious metal has actually resumed its recovery from the multi-year lows they hit last December.
