Australian gold stocks hit 7-month high as bullion prices firm

De Grey Mining

07/03/2022 24:43

** Australian gold stocks  .AXGD  jump ~4% to their highest
level since July 2021 
    ** Spot gold prices  XAU=  rise over 1% 
    ** Investors around the world scramble for safe-heaven
assets as concerns grow over the wider economic fallout of
Russia's invasion of Ukraine
    ** Newcrest Mining  NCM.AX , Australia's largest gold miner,
jumps 4% - in its biggest rise in over 2 weeks
    ** De Grey Mining Ltd  DEG.AX  and Resolute Mining Ltd
 RSG.AX  are the top gainers on the sub-index, rising ~11% and
~8%, respectively
    ** Northern Star Resources Ltd  NST.AX  also rise 5.6%, to
its highest level since Nov. 21 
    ** AXGD has risen ~10% so far this year, compared to an ~11%
fall in 2021

 (Reporting by Indranil Sarkar in Bengaluru)
 ((Indranil.Sarkar@thomsonreuters.com;))