During the last week of September, gold suffered its second largest monthly decline of 2023 with only February having a greater devaluation of gold futures, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable.
During the last week of September, gold suffered its second largest monthly decline of 2023 with only February having a greater devaluation of gold futures, noted mining audiences manager Michael McCrae.
On Saturday McCrae recorded Kitco Roundtable.
The precious metal droped 5%, nearly $100. According to Kitco contributor Gary Wagner, the root cause the Federal Reserve including a major revision that was announced at last week’s September FOMC meeting.
In mining news, battery metal investments led the headlines.
Swedish lithium-ion battery manufacturer Northvolt announced that it will establish a fully integrated lithium-ion battery gigafactory near Montreal, Quebec. Spend is $5 billion and the plant will employ up to 3,000 people.