Gold miners slide as metal edges lower on strong US jobs data

Kinross Gold

12/02/2026 16:48

Updates

** Shares of gold miners down, tracking falling prices of the yellow metal GOL/

** Spot gold XAU= extends fall, last down over 3% at $4,913.69/ounce

** Gold prices plunge as strong U.S. labour data that dampened hopes of near-term Federal Reserve rate cuts offset safe-haven demand stirred by geopolitical tensions between the U.S. and Iran

** Miners Newmont NEM.N and Barrick Mining ABX.TO, B.N both down ~4%

** South African miners Gold Fields GFIJ.J, GFI.N down ~5%, Sibanye Stillwater SSWJ.J, SBSW.N off ~6% and Harmony Gold HARJ.J, HMY.N slips 5%

** Canadian miners Agnico Eagle Mines AEM.TO and Kinross Gold K.TO fall ~3% and 4.2%, respectively

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.bafna@thomsonreuters.com))