Gold miners fall as hot US inflation data boosts Fed hike bets
GLD•Gold miners fell as spot gold dropped 1.5% to $4,095.16 an ounce after stronger-than-expected US inflation boosted bets on a Federal Reserve rate hike this month. Newmont shares fell 1.7%, while Barrick Mining shares fell 1.5%.
1. Gold prices decline
Shares of gold miners fell, tracking lower bullion prices after stronger-than-expected US inflation increased bets on a Federal Reserve rate hike this month. Spot gold was down 1.5% at $4,095.16 an ounce. Barrick Mining fell 1.5% and Newmont fell 1.7%; Harmony Gold, Gold Fields and Sibanye Stillwater declined 1.6%, 0.8% and 2.6%, respectively. Agnico Eagle Mines dipped 2.2%, while Kinross Gold fell 1.6%.
