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A company that may be worth looking into amidst the rally is Clifton Mining Company (OTC:CFTN). It has been one of the established players in the mine sector, and since 1993 it has focused on the exploration of gold, silver, and lead. The company owns its mining property, spanning as much as 14,027 acres on the border of Utah and Nevada.
Gold prices fell 3% on Friday amid a broader market sell-off, triggered by hawkish comments from U.S. Federal Reserve officials that reduced expectations for a December rate cut.
The longest U.S. government shutdown, which concluded on Thursday, resulted in a significant data gap, leaving both the Fed and market participants with limited visibility ahead of next month’s policy meeting.
Investors had been anticipating fresh economic data that might indicate a slowdown, potentially giving the Fed scope to lower rates in December and enhancing the attractiveness of non-yielding gold.
Typically, gold performs strongly during periods of economic uncertainty and in low-interest-rate environments, as it does not offer a yield.