Gold miners gain as rising tariff worries hurt US dollar

ReutersJun 2, 2025 3:43 PM

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Shares of gold miners rise, tracking jump in bullion prices GOL/

Spot gold XAU= up 2.5% at $3,392.95/ounce, after hitting its highest level since May 8, earlier in the session

Gold prices rise on a weakening U.S. dollar, as a combination of geopolitical risks and economic uncertainty fuel investor demand for safe-haven assets

Top miners Newmont NEM.N and Barrick Mining ABX.TO up 5.3% and 4.7%, respectively

U.S.-listed shares of South African miners: Gold Fields GFI.N gains 8.3%, AngloGold Ashanti AU.N rises ~7%, and Harmony Gold HMY.N up 5.2%

Canadian miners Agnico Eagle Mines AEM.TO and Kinross Gold K.TO up 4.6% and 6.2%, respectively

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