Gold miners fall as bullion drops on inflation, rate concerns
GDX•Major miners decline
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 about 2%.
Gold miners track lower bullion prices
U.S.-listed shares of gold miners fall premarket, tracking lower bullion prices.
Spot gold XAU= is 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.
Comments on inflation and rate expectations
"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.
