BUZZ-Gold miners dip as bullion prices fall below $5,000/oz
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U.S.-listed gold miners' shares fell in premarket trading as spot gold prices dropped over 8% to $4,958.34/ounce, falling below $5,000/ounce. This decline is attributed to speculation about a more hawkish U.S. Federal Reserve chair. Despite this, gold remains on track for its strongest monthly gain since 1999 due to safe-haven demand. Major miners like Newmont and Barrick Mining saw declines of 8.3% and 10.4%, respectively, while South African and Canadian miners also experienced significant drops in their stock prices.
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