Gold miners climb on weaker dollar, easing Fed rate hike concerns
NEM•Miners gain across regions
** Top miners Barrick Mining ABX.TO and Newmont NEM.N up 2.6% and 2.9%, respectively
** South African miners Gold Fields GFI.N rises 3.6%, Harmony Gold HMY.N jumps 3.9% and AngloGold Ashanti AU.N gains 3.8%
** Canadian miners Kinross Gold K.TO up 2.2% and Agnico Eagle Mines AEM.TO rises 2.4%
Gold miners rise as bullion strengthens
** Shares of gold miners up, tracking rise in bullion prices GOL/
** Spot gold XAU= up 1.2% at $4,426.52 per ounce, supported by a weaker dollar and fading expectations of a U.S. Federal Reserve rate hike, while investors continued to monitor geopolitical tensions in the Middle East
** The gold market appears to be pricing in a stagflationary environment, with softer employment and expectations that the Fed will tolerate current inflation levels, said Bart Melek, global head of commodity strategy at TD Securities
