BUZZ-Gold producers: Precious metal falls

Thu Jul 14, 2016 8:13am EDT
 
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** U.S.-listed shares of gold producers down after the precious metal fell more than 1 pct as the dollar strengthened

** Spot gold fell as much as 1.3 pct to $1,325.00 an ounce at 1158 GMT

** Barrick Gold Corp down 2.3 pct, Gold Corp Inc 2.5 pct, Newmont Mining Corp 1.9 pct

** Iamgold Corp 3.3 pct, Yamana Gold Inc 3.4 pct, Kinross Gold Corp 2.6 pct, McEwen Mining Inc 2.4 pct, Hecla Mining Co 3.6 pct, Anglogold Ashanti 2.9 pct, Randgold Resources Ltd 1 pct

** Jefferies upgrades Barrick Gold and Randgold to "buy" and Kinross Gold to "hold"

** "Our Buy recommendations on Barrick and Randgold do not depend on gold continuing to rise for the long term. A flat price environment should be more than good enough for these shares to perform well," write Jefferies analysts in a note