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Mar 04 - 07:55 AM

Gold - Miners Gain As Trump's Tariffs Fuel Safe-Haven Demand

By Katha Kalia  —  Mar 04 - 05:39 AM

• U.S.-listed shares of gold miners rise premarket, tracking an increase in bullion prices [GOL/]

• Spot gold rises 0.8% to $2,917.61/ounce, driven by safe-haven demand as trade conflicts erupted after U.S. President Donald Trump imposed new tariffs on top three trading partners of the world's biggest economy

• Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with doubling of duties on Chinese goods to 20%

• Top miners Newmont and Barrick Gold up 1% and 1.3%, respectively

• South African miners Gold Fields up 1.5%, Harmony Gold up 1.5% and AngloGold Ashanti up 1.4%

• Canadian miners Kinross Gold and Agnico Eagle Mines up 1.5% and 1.2%, respectively

(Reporting by Katha Kalia in Bengaluru)

Source:
London Stock Exchange Group | Thomson Reuters

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