Gold miners rise as bullion prices edge up on softer US dollar
GLD•Spot gold rose 1.3% to $4,184.74 an ounce, heading for a weekly gain, as oil prices cooled and the US dollar softened. Shares of major gold miners rose premarket, including Newmont, up 2%, and Barrick Gold, up 1.7%.
1. Miners rise premarket
US-listed gold miners rose premarket as spot gold gained 1.3% to $4,184.74 an ounce, heading for a weekly gain. Gold prices rose as oil prices cooled and the US dollar softened, while markets weighed the likelihood of further Federal Reserve interest-rate hikes.
2. Company moves
Newmont shares rose 2% and Barrick Gold shares gained 1.7%. Shares of South African miners Gold Fields, Harmony Gold and AngloGold Ashanti rose between about 1% and 3.54%, while Agnico Eagle Mines and Kinross Gold each rose 2.2%.
