BUZZ-Gold miners fall as bullion drops on inflation, rate concerns
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 fall premarket, tracking lower bullion prices GOL/
** Spot gold XAU= down 1.9% at $3,983.64/ounce, pressured by inflation worries linked to ongoing Middle East tensions and uncertainty over U.S. interest rates
** "Any renewed escalation could drive oil prices higher, reinforce inflation concerns, and strengthen rate hike expectations, potentially weighing on gold," says Critical Metals CEO Tony Sage
** Top miners: Newmont NEM.N and Barrick Mining B.N decline 1.8% and 1.4%, respectively
** South African miners: Gold Fields GFI.N, Harmony Gold HMY.N and AngloGold Ashanti AU.N fall between 1.3% and 2.4%
** Canadian miners: Agnico Eagle Mines AEM.N falls 1.7% and Kinross Gold KGC.N down ~2%