CGL.TO is trading at CA$33.80 (-3.10%) as underlying gold prices retreat amid rising expectations for restrictive Federal Reserve policy.
- Gold fell as markets anticipated and then assessed Fed Chair Kevin Warsh’s August 28 Jackson Hole speech, which emphasized persistent inflation and pushed U.S. yields and the dollar higher—negative for non-yielding bullion.
- Equities are only modestly lower; commodity and macro drivers, plus profit-taking after gold’s rally, likely amplified the move rather than broad risk-off selling.