Fed’s Goolsbee: Inflation progress continues while economic growth has been strongFed's Goolsbee: Inflation progress continues while economic growth has been strong
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Gold miners are up after the consumer price index was lower than expected.

On Tuesday, the U.S. Labor Department said its much-anticipated Consumer Price Index was unchanged last month at 0.0%, following a 0.4% rise in September. The data came in cooler than expected, as economists were still forecasting a 0.1% increase.

Barrick Gold (TSE: ABX) rallied 2.85% and Newmont (TSE: NGT) gained 4.28%. Overall the gold miners, based on the VanEck Gold Miners ETF, were up 4.59% today, but the gold miners are still down for the year.

Other miners benefited. Copper focused Freeport-McMoRan was up 5%. Teck, which announced yesterday its selling its coal business, was up 2%.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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