Australian gold stocks drop as bullion hits 3-three week low

Firefly Metals

24/11/2021 04:16

** Australian gold subindex  .AXGD  falls as much as 2.2%,
hits its lowest in nearly three weeks 
    ** Gold prices slipped to near three week low as the
renomination of U.S Federal Reserve Chair Jerome Powell fuelled
bets of faster interest rate hikes  GOL/ 
    ** Auteco Minerals  AUT.AX  down 3.9% to be the top loser in
the sub-index 
    ** Resolute Mining  RSG.AX  down 3.2%, while St Barbara
 SBM.AX  falls 2.4%
    ** The country's biggest listed gold miner Newcrest Mining
 NCM.AX  is down as much as 2.7%, hitting its lowest since Oct.
11 
    ** NCM says it will invest further A$10 mln of exploration
expenditure to buy JV interest in Wilki project in Western
Australia  urn:newsml:reuters.com:*:nFWN2SE173
    ** AXGD extends losses for the fourth consecutive day  
    ** As of last close, AXGD is down 10.7% this year

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