Gold loses some luster after Trump’s decisive win
Gold’s slide is a marked turnaround for a commodity that had surged by more than 30% in the year leading up to the US vote.
Gold Fields (GFIJ.J), the world’s fourth-largest listed gold miner, said on Tuesday rising commodity prices were putting cost pressures on gold miners even as the price of the precious metal itself climbed.
“We are concerned about what we’ve seen on the commodities front,” Chief Executive Nick Holland told the Reuters mining summit, citing oil’s recent rally but also other rising costs for key things such as timber and steel.
