Australian gold stocks eye worst day in 3 weeks as bullion dips

De Grey Mining

06/01/2022 24:31

** Australian gold stocks  .AXGD  fall as much as 2%, set
for its sharpest fall since Dec. 15 last year 
    ** AXGD tracks an overnight fall in gold prices after 
minutes from the last Federal Reserve meeting showed that the
U.S. central bank may need to raise interest rates sooner than
expected to curb inflation  GOL/ 
    ** Spot gold  XAU=  fell as much as 0.3% overnight; it was
last down 0.1% at 0027 GMT
    ** De Grey Mining Ltd  DEG.AX  drops 3.2% to be the top
loser on the index, while Westgold Resources Ltd  WGX.AX  falls
3.1%
    ** The country's biggest listed gold miner Newcrest Mining
 NCM.AX  is down 1.7% 
    ** AXGD tumbled 11.2% in 2021

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))