Gold miners gain as bullion prices edge up on Fed rate cut hopes

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

Spot gold XAU= up 0.5% at $3,661.56/ounce, after hitting a record $3,790.82/ounce earlier in the week

The metal has risen 2% this week

Gold prices gain after U.S. inflation data came in line with expectations, reinforcing bets that the Federal Reserve may continue with interest rate cuts later this year

Top miner Newmont NEM.N up 1.3%

U.S.-listed shares of South African miners Gold Fields GFI.N up 3%, AngloGold Ashanti AU.N up 3.8%, Harmony Gold HMY.N up 2.9% and Sibanye Stillwater SBSW.N up 3.3%

Canadian miners Agnico Eagle Mines AEM.TO up 1.5% and Kinross Gold K.TO up 1.3%