welcome back to our weekly update I'm Charlotte McLeod with investingnews.com and I'm here to give you a quick look at our top stories for the week [Music] the gold price trended down this week falling to about 1910 per ounce on September 13th after the release of the latest U.S inflation data the Consumer Price Index Rose 0.6 month on month in August the first time it's increased since February on an annual basis it was up 3.7 percent which was in line with estimates and the smallest


uptick in about two years horse CPI which many experts believe is a more accurate gauge of inflation was up 0.3 percent from July and 4.3 percent from the previous year the U.S federal reserve still has a target of two percent for inflation which means it continues to run hotter than the central bank would like as the FED gears up to meet from September 19th to 20th some worker participants are wondering whether another hike is in the cards it's impossible to say for sure but currently that looks unlikely


CME group's fedwatch tool which we looked at last week still shows a 97 probability that the FED believe rates unchanged at 5.25 to 5.5 percent we'll be watching closely to see what happens so stay tuned as you wrap up I want to take a quick look at a report released this week by a federal Committee in the U.S the document which was put together by an interagency working group includes recommendations aimed at reforming the country's mining industry the 168-page report includes over 60 recommendations


for Congress and federal agencies one idea that's been receiving a lot of attention is the imposition of a four to eight percent royalty on Hard Rock mining on federal lands another is the proposal to transition from the current claim system to a Hard Rock mineral Leasing system again for federal lands while the working group believes that those and other changes would help increase domestic supply of critical minerals while improving environmental labor and Community standards leaders in the mining industry have reacted less


positively Rich Nolan of the national mining Association said the suggested alterations would have the opposite effect slowing down projects and forcing the U.S to import more key commodities circumstances like this really highlight the ever-increasing tension between appropriate legislation and the desire to develop local sources of the Commodities needed for the energy transition so far the working group has only made suggestions and there's no guarantee they'll move forward I'll have to wait


and see that's all for this week if you like this video make sure you subscribe to our Channel we also love to hear your thoughts so leave us a comment below see you next time