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BUZZ-Gold miners gain as Trump's tariffs fuel safe-haven demand

Reuters
Mar 04, 2025
BUZZ-Gold miners gain as Trump's tariffs fuel safe-haven demand

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

** Spot gold XAU= 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 NEM.N and Barrick Gold GOLD.N up 1% and 1.3%, respectively

** South African miners Gold Fields GFI.N up 1.5%, Harmony Gold HMY.N up 1.5% and AngloGold Ashanti AU.N up 1.4%

** Canadian miners Kinross Gold KGC.N and Agnico Eagle Mines AEM.N up 1.5% and 1.2%, respectively

(Reporting by Katha Kalia in Bengaluru)

((Katha.Kalia@thomsonreuters.com))

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