BUZZ-Gold miners: Spot prices fall, HSBC research action

Mon Oct 27, 2014 1:49pm EDT
 
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** U.S.-listed shares of several gold miners down 1.5 pct-2 pct

** Gold dropped on Monday as crude oil prices tumbled but further losses were limited by recovering physical demand and expectations that the Federal Reserve will wait a long while before hiking interest rates

** Analysts at HSBC cut official gold price forecast for next 3 years and reduce their long-term gold price assumption target to $1,325/ounce from $1,350/ounce

** Spot gold down 2.3 pct at $1,228.76 an ounce at 13:20 p.m. ET

** HSBC cuts price target on IAMGOLD to $2.70 from $3, Newmont to $26 from $26.30, Yamana to $6.20 from $6.50 and Randgold to $82.70 from $85.70

** IAMGOLD Corp down 2 pct at $2.30, Newmont Mining Corp 1.9 pct at $21.56, Yamana Gold Inc 1.7 pct at $21.56 and Randgold Resources Ltd 1.6 pct at $63.67