Gold miners fall as bullion inches down on commodity index rebalancing

U.S.-listed shares of gold miners fall premarket, tracking prices of the bullion [GOL\]

Spot gold XAU= falls 0.5% to $4,429.26 an ounce as investors braced for futures selling tied to a commodity index reshuffle, with a stronger U.S. dollar adding pressure on the metal

"Gold and silver remain under pressure as the annual commodity-index rebalancing gets underway. Over the next five days, COMEX futures could see selling in the region of $6 to $7 billion in each metal," says Ole Hansen, head of commodity strategy at Saxo Bank

Meanwhile, a stronger U.S. dollar makes the precious metal more costly for overseas buyers

Top miners Newmont NEM.N and Barrick Mining B.N down 1.7% and 1.4%, respectively

South African miners Harmony Gold HMY.N and Gold Fields GFI.N down over 1%, Sibanye Stillwater SBSW.N falls 4.7%

Canadian miners Agnico Eagle Mines AEM.N down ~1% and Kinross Gold KGC.N down 1.4%