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Investors are still weighing the risk of rising cost of living, which has actually tapped the breaks on gold's rise, said Agnico Eagle (TSX: AEM) Chief Executive Officer Sean Boyd.
Boyd talked to Kitco on Tuesday. The business released its Q3 this week. In the springtime gold traded over $1,900 oz but this autumn is having a hard time to stay over $1,800 oz.
" Gold is stuck today since capitalists are still trying to establish what inflation is mosting likely to resemble. We are in that camp where 'inflation is not transitory.' We can see costs starting to go up. We see even more long-term inflation down the road. That is a recipe for higher gold prices," stated Boyd.
0:23 Angico Eagle's Q3
2:16 Miners are seeing cost pressure
5:39 Agnico Eagle expands exploration program
8:09 Long-term gold manufacturing at Agnico Eagle
9:00 Gold overview
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Why gold is ‘stuck’
Investors are still weighing the risk of inflation, which has tapped the breaks on gold’s rise, said Agnico Eagle (TSX:AEM) CEO Sean Boyd.
Boyd spoke to Kitco on Tuesday. The company released its Q3 this week. In the spring gold traded above $1,900 oz but this fall is struggling to stay above $1,800 oz.
“Gold is stuck right now because investors are still trying to determine what inflation is going to look like. We are in that camp where ‘inflation is not transitory.’ We can see prices starting to go up. We see more permanent inflation down the road. That is a recipe for higher gold prices,” said Boyd.
0:23 Angico Eagle’s Q3
2:16 Miners are seeing price pressure
5:39 Agnico Eagle grows exploration program
8:09 Long-term gold production at Agnico Eagle
9:00 Gold outlook
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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