Shares of precious metals companies are trading higher as gold prices gain following the release of June CPI data, which showed a rise in US inflation. Investors continue to view gold as a hedge against inflationary pressures.
Consumer prices for the month of June rose 5.4% year over year, compared to the 4.9% consensus estimate. Core CPI rose 4.5%, which was also greater than the 4% consensus estimate.
Notable gainers in the precious metals space include Agnico Eagle Mines Limited AEM, B2Gold Corp BTG, Kinross Gold Corp KGC and Sandstorm Gold Ltd SAND.
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