Gold miners rise as Powell's comments lift metal's prices

Franco-Nevada

10/07/2024 15:56

** Shares of gold miners climb, tracking a rise in the price
of the precious metal
    ** Spot gold  XAU=  up 0.6% at $2,376.65/ounce, while U.S.
gold futures  GCv1  rise 0.7% to $2,385.30/ounce 
    ** Prices rise after Federal Reserve Chair Jerome Powell's
comments suggested the case for interest rate cuts is getting
stronger, while investors braced themselves for a crucial U.S.
inflation report  GOL/ 
    ** Top gold miners Newmont  NEM.N  and Barrick Gold  ABX.TO 
climb 2.9% and 1.6%, respectively
    ** U.S.-listed shares of South African miners Sibanye
Stillwater  SSWJ.J   SBSW.N , Harmony Gold  HARJ.J   HMY.N ,
AngloGold Ashanti  ANGJ.J   AU.N  and Gold Fields  GFIJ.J 
 GFI.N  up between 0.7% and 2.9%
    ** Canadian miners Agnico Eagle Mines  AEM.TO  and Kinross
Gold  K.TO  climb 2.4% and 2.5%, respectively

 (Reporting by Tanay Dhumal in Bengaluru)
 ((Tanay.Dhumal@thomsonreuters.com; 
Twitter: https://twitter.com/TanayDhumal))