Gold drops and gigafactory to be built in Quebec
About this episode
During the last week of September, gold suffered its second largest monthly decline of 2023 with only February having a greater devaluation of gold futures, noted mining audiences manager Michael McCrae.
On Saturday McCrae recorded Kitco Roundtable.
The precious metal droped 5%, nearly $100. According to Kitco contributor Gary Wagner, the root cause the Federal Reserve including a major revision that was announced at last week’s September FOMC meeting.
In mining news, battery metal investments led the headlines.
Swedish lithium-ion battery manufacturer Northvolt announced that it will establish a fully integrated lithium-ion battery gigafactory near Montreal, Quebec. Spend is $5 billion and the plant will employ up to 3,000 people.
Get every episode summarized
Each time Kitco NEWS Roundtable publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
Hosts & guests
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from Kitco NEWS Roundtable
Another week, another 9-figure mining deal and gold churns at $2,300 level
Kitco NEWS Roundtable
Gold investors aren't profit taking yet and blockbuster M&A deal announced
Kitco NEWS Roundtable
Gold lacks path to head higher, and Biden administration halts mine development...
Kitco NEWS Roundtable
Another excellent week for copper and gold
Kitco NEWS Roundtable