Company News

BUZZ-Gold cos fall after stocks rise on strong U.S. data, firm dollar

** U.S.-listed shares of gold producers fall as global stocks firmed on upbeat economic data from the U.S. and a stronger dollar

** Spot gold down about 0.5 percent to $1,310.76 per ounce at 1120 GMT, having hit $1,326.30 on Thursday - its highest since April 26

** U.S. gold futures fell 0.5 percent to $1,315 per ounce

** Against a basket of other currencies, the dollar edged 0.15 percent higher at 95.71 after two consecutive weeks of declines

** AngloGold Ashanti down 7.4 pct, Harmony Gold down 4.4 pct,

** Barrick Gold, Sibanye-Stillwater and DRDGOLD down ~2 pct

** “It is just a reaction to the strong jobs report on Friday in the U.S. and stock market recovery due to the dovish U.S. Federal Reserve. These factors have reduced the short-term demand for gold” - Saxo Bank analyst Ole Hansen

** A closely watched report from the U.S. Labor Department showed on Friday that nonfarm payrolls jumped by 304,000 jobs last month, the largest gain since February 2018 (Reporting by Shradha Singh in Bengaluru)