Gold miners climb as dollar weakens on slower rate hike bets

Wesdome Gold Mines (ontario)

01/12/2022 17:44

(Updates)
    ** Shares of gold miners rise, tracking gains in the prices
of precious metals
    ** Spot gold  XAU=  up 1.6% at $1,797.35/ounce, while U.S.
gold futures  GCv1  advance 3.1% to $1,813.80/ounce as dollar
slips on prospects of smaller interest rate hikes  GOL/ 
    ** Top gold miners Newmont Corp  NEM.N  and Barrick Gold
Corp  ABX.TO  gain 2.8% and 5.1%, respectively
    ** U.S.-listed shares of South African miners Gold Fields
 GFIJ.J   GFI.N , AngloGold Ashanti  ANGJ.J   AU.N  and Harmony
Gold Mining  HARJ.J   HMY.N  climb 0.8%-3%
    ** Canadian miners Kinross Gold  K.TO , Wesdome Gold Mines
 WDO.TO , Eldorado Gold  ELD.TO , Equinox Gold  EQX.TO  and
OceanaGold  OGC.TO  rise between 6.1% and 12.5%, among top pct
gainers in S&P/TSX Composite Index  .GSPTSE 
    ** Other precious metals also rise - spot silver  XAG= 
jumps 1.4% and platinum  XPT=  climbs 1.2% 
 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))