Australian gold stocks eye worst day in 3 weeks as gold prices fall

Bellevue Gold

23/05/2024 02:00

** A sub-index of Australian gold stocks  .AXGD  falls as
much as 3.5%, its biggest intraday drop since May 1 
    ** Gold prices dipped over 1% on Wednesday as investors
booked profits and traders pulled back from bets on Federal
Reserve's rate cuts this year  GOL/ 
    ** Northern Star Resources  NST.AX  drops as much as 3.2% to
its lowest level since March 27
    ** ASX-listed shares of Newmont  NEM.AX  fall as much as
4.2%
    ** Gold explorers Bellevue Gold  BGL.AX  and Alkane
Resources  ALK.AX  fall as much as 6.2% and 5.6%, respectively,
to become the top pct losers on the sub-index
    ** AXGD down 7.8% this year, as of last close vs a 3.4% gain
in the benchmark ASX 200 index  .AXJO 



 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))