Gold miners rise as bullion heads for best day since October 2023

Shares of gold miners rise, tracking prices of bullion, which pared earlier gains but was still set for its best day since October 2023 GOL/

Spot gold XAU= up 3.4% at $3,085.50/ounce, helped by safe-haven inflows amid escalating U.S.-China trade tensions as U.S. President Donald Trump further increased tariffs on China

Trump says he authorized a 90-day pause on new tariffs for many countries, even as he escalated tariffs on imports from China, raising the rate on the world's second-largest economy to 125%, effective immediately

The metal is used as a safe investment during times of political and financial uncertainty

Shares of top miners Newmont NEM.N and Barrick Gold ABX.TO up ~8% and 4.9%, respectively

U.S.-listed shares of South African miners: Gold Fields GFI.N up 7.5%, AngloGold Ashanti AU.N rises 8.9%, Harmony Gold HMY.N jumps 13.8% and Sibanye Stillwater SW.N> soars nearly 19%

Shares of Canadian miners: Kinross Gold K.TO and Agnico Eagle Mines AEM.TO up 7.6% and 4.5%, respectively