Australian gold stocks hit two-week low as bullion prices drop

Firefinch

06/04/2022 01:58

** A sub-index of Australian gold stocks  .AXGD  falls as
much as 3% to hit its lowest since March 23 
    ** Gold prices slipped as rising U.S. Treasury yields and
expectations for more aggressive monetary policy tightening by
the Federal Reserve hurt safe-haven demand  GOL/ 
    ** Sector heavyweight Newcrest Mining  NCM.AX  slips as much
as 3.1% to hit its lowest since March 30
    ** Northern Star Resources  NST.AX  drops 1.5%, while Red 5
Ltd  RED.AX  falls 6.3% to top losses in the sub-index
    ** Firefinch Ltd  FFX.AX  and Alkane Resources Ltd  ALK.AX 
down 4.5% and 4.9%, respectively 
    ** AXGD posts its biggest intraday pct fall since March 15
    ** AXGD up 10.2% this year, as of last close

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))