Gold miners up as bullion prices edge higher on weak US dollar, safe-haven demand

ReutersMay 5, 2025 2:16 PM

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Shares of gold miners rise, as bullion prices gain over 2% GOL/

Spot gold XAU= up 2.5% at $3,302.91/ounce

Gold prices were supported by a weaker U.S. dollar and safe-haven demand, while the market awaits a policy decision from the U.S. Federal Reserve later in the week

Top miners Newmont NEM.N up 2% and Barrick Gold ABX.TO up ~1%

South African miners Gold Fields GFI.N gains 7.8%, AngloGold Ashanti AU.N up 4.7%, Harmony Gold HMY.N rises 6.9% and Sibanye Stillwater SBSW.N up 2.4%

*Gold Fields on Monday said it will acquire Australian miner Gold Road Resources GOR.AX for $2.4 billion

Canadian miners Agnico Eagle Mines AEM.TO rises 1.6% and Kinross Gold K.TO up 1.5%

($1 = 1.5437 Australian dollars)

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