Gold miners climb as bullion surges past $4,400/oz mark

U.S.- listed shares of gold miners rise premarket, as bullion prices soar above the crucial $4,400-per-ounce level for the first time, propelled by expectations of U.S. rate cuts and continued safe-haven buying GOL/

Spot gold XAU= extends gains, last up 2% at $4,426.66/oz

"Expectations of Federal Reserve rate cuts could continue to strengthen gold. Markets are now pricing in two additional cuts next year, a backdrop that continues to favour bullion," says Frank Walbaum, market analyst at Naga

Top miners Newmont NEM.N and Barrick Mining ABX.TO, B.N rise 3.3% and 3.1%, respectively

South African miners Gold Fields GFI.N rise ~4%, AngloGold Ashanti AU.N gain 4.5%, Sibanye Stillwater SSWJ.J, SBSW.N climbs ~5% and Harmony Gold HMY.N up 4.1%

Canadian miners Agnico Eagle Mines AEM.TO, AEM.N up 2.4% and Kinross Gold K.TO, KGC.N gains ~3%