The MSCI Global Gold Miners Index has risen 43% so far this month and is on track to record its largest monthly gain since records began. International gold prices have risen for five consecutive weeks and are on track to post their biggest monthly increase since 1999.

On Tuesday, following Federal Reserve Governor Waller’s call to consider a 50 basis point rate hike at the December meeting, this year’s FOMC rotating voting member Lorie Logan reiterated a hawkish stance, stating, "Given the current economic outlook, I believe at least two more rate hikes of 25 basis points each are needed. The pace of rate hikes this winter may be faster than what we have seen so far this autumn." On Tuesday, the two-year US Treasury yield jumped 19 basis points in a single day, reaching 4.74%.