Fortuna to buy Bambadji gold project in Senegal from Barrick, IAMGOLD

Gold and silver prices surged on Monday amid traders betting that Friday's surprise contraction in US employment would prevent a September interest rate hike. Gold reached its best level since mid-June, trading near $4,421.50 an ounce, while silver hit a seven-week high at $65.075. Barrick Mining's stock plummeted, setting its worst daily decline since March, after the company agreed to sell its prized Fourmile gold discovery to rival Newmont for $1.95 billion.

Analysts questioned the deal's value, estimating it at $325 an ounce. Meanwhile, US economic data showed a sharp drop in employment, with 23,000 jobs lost in July, easing concerns about a rate hike. However, rising energy costs and inflation concerns weighed on the dollar, which rose against commodities.