Australian gold stocks set for worst session in 5 months as bullion prices drop

De Grey Mining

22/03/2023 24:17

** Australian gold stocks  .AXGD  fall as much as 4.3%, set
for their worst day since Nov 3, 2022, if losses continue
    ** Gold prices dropped about 2% on Tuesday as Treasury
yields jumped and easing worries over a banking crisis prompted
some investors to cautiously return to riskier assets  GOL/ 
    ** Newcrest Mining  NCM.AX , the country's largest gold
miner, down as much as 3.3% to A$24.950
    ** Northern Star Resources  NST.AX  falls as much as 5.8% to
A$10.970, set for worst day since Sept 26, 2022, if trend holds
    ** De Grey Mining  DEG.AX  leads losses on AXGD, sliding up
to ~9% to A$1.435, marks biggest intraday pct fall since Nov 16,
2022
    **  AXGD sub-index up 11.5% this year, as of last close, vs
a 1.2% fall on the benchmark index  .AXJO 
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))