Australian gold stocks hit over 5-week low on bullion weakness
17/07/2026 02:32
BUZZ-Australian gold stocks hit over 5-week low on bullion weakness ** Australian gold stocks .AXGD fall as much as 4.5%, while the broader benchmark .AXJO trades down 0.7%
** Sub-index at its lowest since June 11, logs the largest intraday pct drop since June 30
** Gold prices dropped 2% as escalating Gulf tensions pushed oil prices, heightening inflation concerns and reinforcing expectations of elevated U.S. interest rates GOL/
** Sector majors Northern Star Resources NST.AX and Evolution Mining EVN.AX fall 3.4% and 3.3%, respectively
** YTD, AXGD down 22.5% including the day's moves, lagging behind a 0.7% rise on AXJO
(Reporting by Nikita Maria Jino in Bengaluru)
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