Gold miners gain as bullion heads for best week since January

Sibanye Stillwater

07/08/2026 11:16

** U.S.-listed shares of gold miners rise premarket, tracking a gain in bullion prices GOL/
** Spot gold XAU= up 1.7% at $4,312.70/ounce after hitting a seven-week high in the earlier session
** Prices rise more than 1% and head for their biggest weekly gain since January as fading U.S. rate-hike expectations and easing inflation concerns outweigh caution ahead of nonfarm payrolls data
** "Another weaker-than-expected nonfarm payrolls report that further dilutes bets for Fed rate hikes this year may trigger another leg higher for spot gold," says Han Tan, chief market analyst at Bybit
** Top miners Newmont NEM.N and Barrick Mining B.N up 3.6% and 3.4%, respectively
** South African miners Gold Fields GFI.N, Sibanye Stillwater SBSW.N, AngloGold Ashanti AU.N and Harmony Gold HMY.N rise between 7% and 8%
** Canadian miners Agnico Eagle Mines AEM.N up 4.2% and Kinross Gold KGC.N up 4.5%
                  

(Reporting by Sumit Saha in Bengaluru)
((Sumit.Saha@thomsonreuters.com;))