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Gold miners rise as Democrats sweep US midterms

By Reuters News

** US-listed shares of gold miners rise premarket, with spot gold rising 3%

** Spot gold up 3.02% at $4,46.90/oz, bolstered by a weaker US dollar after Democrats seized control of both the Senate and House in US midterm elections GOL/

** Top miners Barrick and Newmont NEM.N each climb over 5%

** Agnico Eagle Mines and Kinross Gold up 5% and 6.8% respectively

** Dollar hits a one-month low as Democrats scored a decisive win in the US midterm elections, fuelling fears the Democratic sweep could disrupt the data-centre buildout that has powered the AI trade and hurt tech spending

** "Gold celebrated the Democrats' victory...the retreat in the dollar and Treasury yields, the reduced Fed hike bets, and the risk aversion on Wall Street, increased gold's appeal" - Charalampos Pissouros, senior market analyst at XM

** Spot gold down 6.3% so far this year

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