CNMC Goldmine down 7.4% after gold tumbles on US Fed inflation pledge

CNMC Goldmine down 7.4% after gold tumbles on US Fed inflation pledge

August 31, 2026 / Nathan Pine /


[SINGAPORE] Shares of CNMC Goldmine fell as much as 7.4 per cent on Monday (Aug 31) after spot gold prices tumbled on the US Federal Reserve chairman’s pledge to fight inflation.

The counter fell as low as S$1.38 within the first 15 minutes of trading, retreating S$0.11.

Its drop followed spot gold falling more than 3 per cent on Aug 28. This came after Kevin Warsh, in his first speech since becoming the Fed chair in May, said he aims to bring US inflation back to its firm and fixed 2 per cent target. This spurred bets that the central bank will raise interest rates.

Spot gold was about 0.2 per cent lower at US$4,448.06 per ounce as at 9.30 am.

CNMC Goldmine’s shareholders on Aug 20 approved the previously Catalist-listed stock’s transfer to the mainboard with effect from Aug 28.



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Nathan Pine

I focus on highlighting the latest in business and entrepreneurship. I enjoy bringing fresh perspectives to the table and sharing stories that inspire growth and innovation.

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