Company News

BUZZ-Gold stocks erase gains as precious metal slides 2% on signs of trade thaw

(Updates prices)

** Shares of U.S.-listed gold miners gave up early gains after gold reversed course to slide as much as 2%, as the United States said it would delay tariffs on some Chinese products and on news that both sides agreed to continue trade talks

** Gold stocks enjoyed a bounce earlier in the day after the precious metal hit a more than six-year high as unrest in Hong Kong and a rout in the Argentine peso drove investors into havens such as bullion

** Harmony Gold, Newmont Goldcorp Corp and Yamana Gold Inc, Gold Fields fell between 0.7% and 4%

** Spot gold was down 0.5% at $1,503.90 per ounce at 11:38 a.m. ET (1538 GMT), having earlier hit its highest level since April 2013 at $1,534.31.

** Global equities rebounded after the Trump administration’s latest announcement eased concerns about the bitter trade war (Reporting by Shreyashi Sanyal in Bengaluru)