Australian gold stocks hit 1-wk high on bullion strength

Genesis Minerals

27/12/2023 03:32

** Australian gold stocks  .AXGD  rise as much as 1.1%,
their highest level since Dec. 20 
    ** Gold prices were flat as trading remained muted amid
expectations of interest rate cuts by the U.S. Federal Reserve
in the first quarter of 2024 and a generally weaker dollar
 GOL/ 
    ** However, gold prices were still hovering near a
more-than-two-week high hit last week 
    ** Gold miner Northern Star Resources Ltd  NST.AX  rose as
much as 0.8% to hit their highest level since Dec. 20 
    ** Shares of Evolution Mining  EVN.AX  rose as much 1.8% 
    ** Shares of Genesis Minerals  GMD.AX  jump up to 5.7% to
become the top gainer in the sub-index
    ** Genesis shares hit highest level since Dec. 14 
    ** AXGD up 24.6% this year, as of last close vs a 6.6% rise
in the benchmark index  .AXJO  
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))