** Australian mining stocks .AXMM rise as much as 1.5% looking to snap three consecutive session of losses

** The sub-index was heading for its best day since Oct. 21, if gains hold

** Copper prices rose on Wednesday after four sessions of declines, while Gold prices rose over 1% as investors avoided riskier assets despite stronger-than-expected private U.S. payrolls data MET/L GOL/

** The gold sub-index, part of the broader mining index, rise more than 2%

** Shares of BHP BHP.AX, Rio Tinto RIO.AX and Fortescue FMG.AX jump more than 1% each

** BHP shares is looking to snap five days of straight losses while Rio is heading for their best day since mid-October, if gains hold

** Fortescue is looking to end three days of consecutive declines

** AXMM up ~24% this year, including the day's move, vs ~8% rise in the benchmark index .AXJO

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))