BUZZ-Gold miners drop as rate worries drag down bullion
Anglogold Ashanti PLC AU | 0.00 | |
Abacus Global Management, Inc. Class A ABX | 0.00 | |
Newmont Corporation NEM | 0.00 | |
Agnico Eagle Mines Limited AEM | 0.00 | |
Kellanova K | 0.00 |
** U.S.-listed shares of gold miners down premarket, tracking lower bullion prices GOL/
** Spot gold XAU= down 1.1% at $4,084.60/ounce, having hit its highest level since July 7 at $4,165.87 on Wednesday
** Prices fall as the escalating Middle East conflict lifts oil prices and fuels concerns that inflation could prompt the U.S. Federal Reserve to raise interest rates later this year
** Top miner Newmont NEM.N and Barrick Mining B.N down 1% and 0.9%, respectively
** South African miners: Gold Fields GFI.N, AngloGold Ashanti AU.N and Harmony Gold HMY.N decline between 1.4% and 2.2%
** Canadian miners: Agnico Eagle Mines AEM.N down 1.3% and Kinross Gold KGC.N falls 1.4%