Gold futures finished higher Tuesday, with prices finding support following data showing rising U.S. inflation and dovish comments from a key Federal Reserve member, amid persistent concerns about the spread of the COVID-19 delta variant.
The U.S. cost of living in June saw the biggest climb since 2008, with the consumer price index up 0.9%, exceeding the 0.5% advance forecast by economists polled by The Wall Street Journal.
Gold markets fluctuated significantly after the data release, as investors tried to digest the information, Jason Teed, co-portfolio manager of the Gold Bullion Strategy Fund QGLDX, +0.09%, told MarketWatch. “Inflation was largely contained to industries associated with reopening from COVID lockdowns, which the [Federal Reserve] has taken the stance of calling transitory.”
Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.