10/29/2023 0 Comments Metal supermarket![]() ![]() ![]() ![]() The Australian dollar slipped below 70 US cents briefly on Monday. US Federal Reserve officials' talk of earlier rate hikes is leading investors to buy the greenback and at the same time devaluing other currencies. Gold is often used as a hedge against inflation and so miners of the yellow metal prospered. "If you're a supermarket, you can pass on rising costs. Northern Star and Evolution each gained a little more than three per cent.ĭeep Data Analytics chief executive Mathan Somasundaram said both supermarkets and gold benefited from inflationary expectations.
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