Why gold is ‘stuck’

Investors are still weighing the risk of inflation, which has tapped the breaks on gold’s rise, said Agnico Eagle (TSX:AEM) CEO Sean Boyd.

Boyd spoke to Kitco on Tuesday. The company released its Q3 this week. In the spring gold traded above $1,900 oz but this fall is struggling to stay above $1,800 oz.

“Gold is stuck right now because investors are still trying to determine what inflation is going to look like. We are in that camp where ‘inflation is not transitory.’ We can see prices starting to go up. We see more permanent inflation down the road. That is a recipe for higher gold prices,” said Boyd.

0:23 Angico Eagle’s Q3
2:16 Miners are seeing price pressure
5:39 Agnico Eagle grows exploration program
8:09 Long-term gold production at Agnico Eagle
9:00 Gold outlook

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