US Stock Market Movement | Gold Stocks Rise at Market Open, Harmony Gold (HMY.US) Up Over 3%
On Friday, gold stocks rose at the opening.
According to Zhitong Finance APP, on Friday, gold stocks opened higher, with Harmony Gold (HMY.US) rising over 3%, Agnico Eagle Mines (AEM.US) and Coeur Mining (CDE.US) both up more than 2%, Gold Fields (GFI.US) and Kinross Gold (KGC.US) both gaining over 1%. In related news, spot gold rose 1.2% to $4,367.35, while spot silver climbed 1.4% to $64.52.
As the U.S. Department of Labor just released the August CPI showing core inflation month-on-month data exceeding expectations, market expectations for a Federal Reserve rate hike next week have further intensified. Core CPI, excluding food and energy prices, increased by 0.3% month-on-month, higher than the market expectation of 0.2%, marking the largest monthly increase since April this year. Following the report, the odds in the interest rate market for a September Fed rate hike rose further, with the probability of a 25-basis-point increase climbing from about 70% before the data release to nearly 90% at one point, before settling back to around 80%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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