Australian gold stocks at over 6-month low as vaccine news boosts recovery hopes
24/11/2020 24:33
** Australia's gold index .AXGD slides 5.8% to its lowest
since May 13
** Gold prices fell to a four-month as better-than-expected
U.S. business activity data and promising COVID-19 vaccine
trials by AstraZeneca AZN.L boosted hopes for a swifter
economic recovery GOL/
** The risk-on sentiment in the market dented demand for the
bullion, often seen as an alternative investment during times of
political and financial uncertainty
** Shares of heavyweight Newcrest Mining fall as much as
5.1% to their lowest since May 5 NCM.AX
** Northern Star Resources NST.AX drops as much as 5.3% to
its lowest level since Sept 24
** Saracen Mineral Holdings SAR.AX down as much as 4.9%
while Evolution Mining EVN.AX sheds as much as 5.78% to its
lowest since June 19
** AstraZeneca said its vaccine could be around 90% and
becomes the third potential vaccine against the
pandemic urn:newsml:reuters.com:*:nL9N2G002K
** The index is up 14.2% this year, as of last close
(Reporting by Tejaswi Marthi in Bengaluru)
((tejaswi.marthi@thomsonreuters.com))