Australia's gold stocks gain on demand for safe-haven bullion

Besra Gold

26/02/2024 02:01

** Australian gold stocks  .AXGD  jump as much as 2.5% after
a near 3.5% drop on Friday
    ** Sub-index set for biggest daily gain since Feb 16 - if
current trend holds
    ** Gold prices gained 1.1% last week, boosted by softer
dollar and safe-haven demand from escalating tensions in the
Middle East, even as U.S. Federal Reserve officials countered
bets of early rate cuts this year  GOL/ 
    ** Heavyweight Evolution Mining  EVN.AX  rises 2%, while
Besra Gold  BEZ.AX  and Perseus Mining  PRU.AX  surge 3.1% and
3.3%, respectively             
    ** Sub-index down 16.2% this year, as of last close

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))