Inflation Impact on ASX Miners: Buyer Appetite Deflates
Inflation Strikes Again, Impacting ASX Miners
Yesterday, buyer interest in ASX miners took a hit as strong gains were quickly wiped out. Metal futures in Asia trade remained relatively muted. Despite this, nickel managed to surpass the US$18,000/t mark, and gold also experienced a rise, hitting $1873/oz.
Equities saw scarce gains in the market as investors navigated a challenging landscape. Startling fluctuations in the market highlighted the uncertainty surrounding inflation and its impact on the mining sector.
Nickel, in particular, took a hit amid struggles with other base metals, contributing to the overall lack of enthusiasm in the market. Gold prices and equities also stumbled as the market grappled with commentary from the US Fed regarding rising inflation.
While the ASX miners faced a tough day on the market, the mining industry continues to persevere through these challenging times. Stay informed and educated about these market trends with reliable resources like MiningNews.net, where you can access expert commentary, breaking news, and valuable insights into commodity updates.
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