Gold cos fall after stocks rise on strong U.S. data, firm dollar

DrdGOLD

04/02/2019 12:38

** U.S.-listed shares of gold producers fall as global
stocks firmed on upbeat economic data from the U.S. and a
stronger dollar
    ** Spot gold  XAU=  down about 0.5 percent to $1,310.76 per
ounce at 1120 GMT, having hit $1,326.30 on Thursday - its
highest since April 26 
    ** U.S. gold futures  GCcv1  fell 0.5 percent to $1,315 per
ounce  urn:newsml:reuters.com:*:nL3N1ZZ2K7
    ** Against a basket of other currencies, the dollar  .DXY 
edged 0.15 percent higher at 95.71 after two consecutive weeks
of declines  urn:newsml:reuters.com:*:nL3N1ZZ2PD
    ** AngloGold Ashanti  AU.N  down 7.4 pct, Harmony Gold
 HMY.N  down 4.4 pct,
    ** Barrick Gold  GOLD.N , Sibanye-Stillwater  SBGL.N  and
DRDGOLD  DRD.N  down ~2 pct
    ** "It is just a reaction to the strong jobs report on
Friday in the U.S. and stock market recovery due to the dovish
U.S. Federal Reserve. These factors have reduced the short-term
demand for gold" - Saxo Bank analyst Ole Hansen
    ** A closely watched report from the U.S. Labor Department
showed on Friday that nonfarm payrolls jumped by 304,000 jobs
last month, the largest gain since February 2018  urn:newsml:reuters.com:*:nUSN1DEFPR

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.singh@thomsonreuters.com))