Gold miners gain as bullion heads for best week since January
GDX•Mine stocks lead premarket gains
Top miners Newmont NEM.N and Barrick Mining B.N are up 3.6% and 3.4%, respectively.
South African miners Gold Fields GFI.N, Sibanye Stillwater SBSW.N, AngloGold Ashanti AU.N and Harmony Gold HMY.N rise between 7% and 8%.
Canadian miners Agnico Eagle Mines AEM.N is up 4.2% and Kinross Gold KGC.N is up 4.5%.
Gold miners rise as bullion climbs
U.S.-listed shares of gold miners rise premarket, tracking a gain in bullion prices GOL/
Spot gold XAU= is up 1.7% at $4,312.70/ounce after hitting a seven-week high in the earlier session.
Bullion heads for biggest weekly gain since January
Prices rise more than 1% and head for their biggest weekly gain since January as fading U.S. rate-hike expectations and easing inflation concerns outweigh caution ahead of nonfarm payrolls data.
"Another weaker-than-expected nonfarm payrolls report that further dilutes bets for Fed rate hikes this year may trigger another leg higher for spot gold," says Han Tan, chief market analyst at Bybit.
