{
  "id": 4545325,
  "title": "CNMC Goldmine down 7.4% after gold tumbles on US Fed inflation pledge",
  "url": "https://urgent.news/2026/08/31/cnmc-goldmine-down-7-4-after-gold-tumbles-on-us-fed-inflation-pledge",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-31T01:46:03.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/cnmc-goldmine-down-7-4-after-gold-tumbles-us-fed-inflation-pledge"
  },
  "original_language": "en",
  "account": "CNMC Goldmine's shares plummeted 7.4% on Aug 31 following a significant decline in spot gold prices due to the US Federal Reserve chairman's commitment to combat inflation. The counter dropped to its lowest point of S$1.38 within the first 15 minutes of trading, falling by S$0.11. The decline was triggered by a sharp drop in spot gold prices exceeding 3% on Aug 28. This move came after Kevin Warsh, the new Fed chair since May, addressed the need to bring US inflation back to its target of 2% in his inaugural speech. This announcement prompted speculation that the central bank may increase interest rates. Spot gold prices dropped by 0.2% to $4,448.06 per ounce by 9:30 am. CNMC Goldmine's shareholders had previously approved the transfer of the stock to the mainboard on Aug 20, effective from Aug 28.",
  "summary": "Spot gold has fallen more than 3% on Aug 28",
  "key_points": [
    "CNMC Goldmine shares fell 7.4% on Aug 31",
    "Spot gold prices dropped 3% on Aug 28",
    "Fed chair Kevin Warsh pledged to reduce inflation to 2%"
  ],
  "editors_take": "The drop in CNMC Goldmine's shares signals that investors now expect higher interest rates to combat US inflation, which could reduce gold's appeal as an investment.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}