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TDUX
Aug 18 - 01:55 PM

Gold - Miners Fall As Bond Yields Surge To Highest Levels In Decades

By Varun Sahay  —  Aug 18 - 12:49 PM

• Shares of gold miners down, tracking lower bullion prices[GOL/]

• Spot gold down 1% at $4,369.82/ounce as Treasury yields surged to their highest levels in decades, with rising energy prices on escalating U.S.-Iran tensions stoking inflation worries and weighing on non-interest-bearing bullion

• "The steepening of the yield curve poses a headwind for gold, while firmer oil prices are also a factor behind today's weakness," said Peter Grant, vice president and senior metals strategist at Zaner Metals

• Top miner Barrick Mining and Newmont down 1.1% and 2.8%, respectively

• South African miners Gold Fields falls ~1%, AngloGold Ashanti falls 1.15% and Harmony Gold falls 2.8%

• Canadian miners Agnico Eagle Mines slips 0.6% and Kinross Gold down 1.8%

(Reporting by Varun Sahay in Bengaluru)

Source:
London Stock Exchange Group | Thomson Reuters

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