Australian gold stocks fall as bullion prices dip ahead of Fed meeting

Predictive Discovery

02/05/2022 06:09

** Australian gold sub-index  .AXGD  falls as much as 2.6%
    ** Gold prices slide as higher U.S. Treasury yields pressure
demand for zero-yield bullion, ahead of a likely Fed rate hike
 GOL/ 
    ** Newcrest Mining  NCM.AX , the country's largest gold
miner, sheds about 1%, while Northern Star Resources  NST.AX 
down close to 2%    
    ** Mineral explorer Predictive Discovery Ltd  PDI.AX 
emerges as top drag on the sub-index, shedding 8.2%
    ** Sub-index up 6.8% this year, as of last close

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))