Updates
** Gold miners rise, tracking bullion prices GOL/
** Spot gold XAU= up 1.8% to $3,230.75 an ounce; after hitting a record high of $3,237.56 earlier in the session, spurred by a weak dollar and concerns due to an intensifying trade war
** Bullion is up over 6% this week
** Newmont NEM.N and Barrick Gold ABX.TO up 6.9% and 4.4%, respectively
** NEM shares up ~24% on the week, on pace for their best week since 1998; brokerage UBS upgrades gold miner to 'buy' from 'neutral' and says co's 2025 outlook looks achievable and will drive positive operational momentum vs low expectations
** UBS also boosts gold price targets for 2025 to $3,100/ounce and for 2026 to $3,500/ounce, up from prior forecast of $2,900 for both years
** U.S.-listed shares of South African miner Gold Fields GFI.N up 5.6%, AngloGold Ashanti AU.N jumps 8.3% and Harmony Gold HMY.N rises 3.7%
** Shares of Canadian miners Kinross Gold K.TO and Agnico Eagle Mines AEM.TO up 4.1% and 4.6%, respectively
(Reporting by Mrinalika Roy & Katha Kalia in Bengaluru)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.