AEME.TO is trading at CA$13.85 (-3.42%) after Federal Reserve Chair Kevin Warsh said persistent inflation means the Fed still has work to do, raising expectations for higher rates for longer and pressuring gold-mining equities.
- Gold’s August 28 pullback saw spot gold down 0.8% to $4,560.37 by 10:11 a.m. ET.
- The decline follows AEME.TO’s recent rally, encouraging profit-taking.
- The ETF’s August distribution is unlikely to explain today’s move because its ex-dividend date is August 31.