Gold, silver shares fall as Trump Iran comments dent precious metal prices

Kinross Gold

02/04/2026 10:04

** U.S.-listed shares of gold and silver miners down premarket, tracking falling prices of the precious metals GOL/

** Spot gold XAU= down 2.7% at $4,631.46/ounce, after declining more than 4% earlier and snapping a four-day winning streak; Spot silver XAG= slides ~5% to $71.38/ounce

** Gold and silver prices decline after U.S. President Donald Trump said Washington would continue its military campaign in Iran in the coming weeks, driving oil prices higher and dampening hopes of interest rate cuts

** Top miners Newmont NEM.N and Barrick Mining ABX.TO, B.N down ~4% and 3.7% respectively

** South African miners: Gold Fields GFI.N, Sibanye Stillwater SBSW.N, AngloGold Ashanti AU.N and Harmony Gold HMY.N decline between 4% and 5.2%

** Silver miners Hecla Mining HL.N down 5.1% and Coeur Mining CDE.N falls 5.7%

** Canadian miners Endeavour Silver EDR.TO, EXK.N dips 5.1%, Silvercorp Metals SVM.TO, SVM.N falls ~5%, Agnico Eagle Mines AEM.TO, AEM.N slips ~4% and Kinross Gold K.TO, KGC.N down 5.5%

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))