June 3, 2016 / 4:31 PM / a year ago

BUZZ-Gold miners: Up after weak U.S. payrolls data

1 Min Read

** Shares of gold miners up as the precious metal rises over 2 pct after U.S. payrolls data falls short of forecasts

** Data boosts expectations that the Federal Reserve will stand pat on interest rates

** Newmont Mining Corp up 8 pct, top gainer on S&P 500

** Royal Gold Inc up 6.9 pct, Kinross Gold Corp 11.6 pct, Barrick Gold Corp 10.4 pct

** Gold, silver miners also top movers in Toronto Stock Exchange 300 Composite Index

** Gold is highly sensitive to U.S. rate expectations, as rising rates lift the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced

** Gold had risen 13.7 pct this year, up to Thursday's close

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