U.S.-listed gold miners fall as bullion slips
GLD•U.S.-listed gold miners fell premarket as spot gold dropped 3.2% to $4,149.89 per ounce, its lowest since August 5. Newmont and Barrick Mining fell 3.4% and 3.5%, respectively.
1. Gold and miners fall
Spot gold fell 3.2% to $4,149.89 per ounce, its lowest since August 5. Higher oil prices stoked inflation fears and strengthened expectations for further Federal Reserve rate hikes. Newmont and Barrick Mining shares fell 3.4% and 3.5%, respectively; U.S.-listed shares of South African miners fell between 5% and 6%, while Kinross Gold dropped 4.7%.
