Gold miners rise as bullion recovers from selloff
GLD•US-listed gold miners rose premarket as spot gold gained 0.5% to $4,052.26 an ounce, after falling as much as 3% in the previous session. Shares of Newmont and Barrick Mining gained 1.6% and 1.8%, respectively.
1. Gold and miners rebound
Spot gold rose 0.5% to $4,052.26 an ounce after dropping as much as 3% to $4,013.29 in the previous session. Prices remained near $4,000 after the selloff, which followed hot US inflation data and hawkish rate comments. Newmont rose 1.6% and Barrick Mining gained 1.8%; Gold Fields, AngloGold Ashanti and Harmony Gold rose between 1% and 1.4%, while Agnico Eagle Mines and Kinross Gold each gained 1.8%.
