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

Shares of gold miners rise, tracking a rise in price of bullion

Spot gold XAU= up nearly 2% at $4,421.15/ounce, after hitting $4,428.92 earlier powered by safe-haven flows as U.S.-Venezuela tensions flared GOL/

"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 2% and ~1%, respectively

U.S.- listed shares of South African miners Gold Fields GFI.N, AngloGold Ashanti AU.N both gain 3%, Sibanye Stillwater SSWJ.J, SBSW.N climbs 4.2% and Harmony Gold HMY.N up 2.1%

Canadian miners Agnico Eagle Mines AEM.TO, AEM.N up 1.2% and Kinross Gold K.TO, KGC.N up ~1%