Pivoting from inflation fears to recession fears
Worries about inflation appear to be supplanted by fears about a recession, noted mining audiences manager Michael McCrae.
On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris.
The Federal Reserve started raising interest rates in the summer to fight inflation. There are signs the medicine is taking hold. Consumer price inflation figure was lower than expected last month. Commodity prices have also been dropping, notably oil. Early this week oil hit its lowest level since January.
With worries about inflation receding, McCrae noted that financial commentators are now switching their concern to recession due to the Fed's rapid interest rate hikes.
Regrading mining news Harris discussed an investment by Jiangxi Copper, a Hong Kong-based investment company, into SolGold (LSE: SOLG; TSX: SOLG).