BUZZ-Gold miners gain as bullion rises on softening US labor market

Reuters12-17 23:08
BUZZ-Gold miners gain as bullion rises on softening US labor market

Updates

** Shares of gold miners rise, tracking prices of the precious metal GOL/

** Spot gold XAU= up 0.6% at $4,330.79 per ounce

** Prices rise after a rise in the U.S. November unemployment rate compared to September signaled a weaker labor market, and escalating U.S.-Venezuela tensions boosted safe-haven demand

** "Gold continues to be supported by dovish Federal Reserve expectations, economic uncertainty and geopolitical tensions," says ActivTrades analyst Ricardo Evangelista

** Top miners Newmont NEM.N and Barrick Mining ABX.TO, gain ~1% and 1.7%, respectively

** Canadian miners Agnico Eagle Mines AEM.TO up marginally and Kinross Gold K.TO up ~1%

** U.S.-listed shares of South African miners Harmony Gold HMY.N up ~1%, and Gold Fields GFI.N gains 1.8%

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com;))

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