London mining stocks rise as US jobs report weakens and cools interest rate hike expectations.

London mining stocks rose as weaker-than-expected US jobs report eased expectations of a rate hike by the Federal Reserve, pushing up the price of gold. Higher interest rates usually weigh on non-yielding assets like gold and silver. Mitsubishi UFJ's Soojin Kim wrote that as US President Trump continues to criticize the central bank, concerns about its independence have resurfaced, benefiting the metal. In the New York market, gold futures rose 1.4% to $4,185.30 per ounce; silver rose nearly 3% to $62.85 per ounce. Precious metals miners Fresnillo and Hochschild Mining both rose by about 2.2%. Anglo American Resources Group rose 1.4%, and commodity giant Glencore rose 1%.