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Gold gains amid talk of hyperinflation

Spot gold is up towards US$1,800 an ounce amid talk of hyperinflation.
Gold gains amid talk of hyperinflation Gold gains amid talk of hyperinflation Gold gains amid talk of hyperinflation Gold gains amid talk of hyperinflation Gold gains amid talk of hyperinflation

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Staff reporter

"High inflation is still the hot topic and growing, perhaps given some increased prominence given Jay Powell's comments on Friday and the weekend debate on social media about the probability that we're actually in a hyperinflationary regime," Pepperstone head of research Chris Weston said today.

Powell, the US Federal Reserve chairman, had noted on Friday the risk of high inflation persisting in the US.

Gold was worth $1,797/oz at the time of writing.

The S&P 500 touched an all-time high of 4,559.67 intraday but closed down 0.1% on Friday.

Cash copper lost 2.2% on the London Metal Exchange to drop below $10,000 per tonne, closing at $9,857/t and putting it closer to the three-month price of $9,704/t, narrowing last week's massive margin.

Nickel fell below $20,000/t after closing down 0.8% to $19,857/t.

Finally, ASX-listed Mineral Resources was up 8.5% this morning on news it would restart its Wodgina lithium joint venture mine with Albemarle in Western Australia's Pilbara.