June 5, 2015 / 3:57 PM / 3 years ago

BUZZ-Metals stocks weak after strong jobs number

** Shares of Newmont Mining Corp fall 3.6 pct as heightened Fed rate hike worries pressures gold and other metal prices

** “The jobs number has given the market more expectation of a sooner than later Fed tightening. That’s knocked a little bit of the wind out of the sails of metals like gold and silver so the shares are following suit today,” says Sterne Agee analyst Michael Dudas

** Investors often favor currency over commodities in rising interest rate environment - analyst

** Barrick Gold U.S. shares fall 1.8 pct in heavy trading volume while Coeur Mining shares fall 2.5

** Weakness extends to other metals too with Century Aluminum shares down 2.6 pct and Alcoa nearly 1 pct lower

** Steel companies shares faring better with Handy & Harman up 1.5 pct, but AK Steel Holding falls 4.5 percent, U.S. Steel Corp drops 2 pct and Schnitzer Steel falls 2 pct, Olympic Steel off 2 pct

** Gold falls 0.6 percent, Silver dips after jobs but recovers to previous day’s close (Reuters Messaging: sinead.carew.thomsonreuters.com@reuters.net)

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