BUZZ-Gold miners rise with as bullion touches a new record high

Reuters
10/16
BUZZ-Gold miners rise with as bullion touches a new record high

** U.S. listed shares of gold miners rise premarket, after the precious metal continues its record run** Spot gold XAU= up 0.79% at $4,240.69/ounce, having a touching record high of $4,241.77 earlier in the day, marking a fifth straight session of gains GOL/]

** Bullion prices have been rising as investors are increasingly turning to the safe-haven asset due to U.S.-China trade tensions and the U.S. government shutdown, with prospects of Fed cutting interest rates further boosting demand

** "The momentum has been so strong and pullbacks shallow, it appears like market participants don't expect a sudden plunge in gold when it eventually tops out," says Fawad Razaqzada, analyst with StoneX** Top miners Newmont NEM.N up 1.4% and Barrick Mining ABX.TO rises 1.2% ** U.S.-listed shares of South Africa's Gold Field GFI.N, Harmony Gold HMY.N and AngloGold Shanti AU.N climb between 1% and 1.7%** U.S.-listed shares of Canadian miners Agnico Eagle Mines AEM.N and Kinross Gold Corp KGC.N gain 0.7% and 1.1%, respectively

(Reporting by Varun Sahay)

((Varun.sahay@thomsonreuters.com))

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