Aussie gold stocks eye best year since 2016 as global conflicts boost prices

St Barbara

27/12/2023 23:18

** Australian gold stocks  .AXGD  are set to end 2023 25.7%
higher, on track for their best year since 2016, if gains hold,
as safe-haven bullion maintained its shine amid global
instability
    ** The rise compares against a 9.1% drop last year and
outperforms a 7.4% gain in the ASX200 benchmark index  .AXJO 
    ** Gold gained at the start of the year as the dollar lost
ground, maintaining its appeal in H2, which saw the Middle East
conflict, Red Sea disruptions and fears around uncertainty from
central banks 
    ** AXGD gained 11.8% in H1 and 12.4% in H2
    ** Top gold miner Northern Star Resources  NST.AX  on track
to gain 25.8%; faces its best year since 2018
    ** Now delisted Newcrest Mining contributed with a 30.1%
rise in Q1 on $16.81 bln buyout by Newmont  NEM.N 
    ** Evolution Mining  EVN.AX  rose 32.6% YTD, set for best
year since 2018
    ** Genesis Minerals  GMD.AX  set for 46.8% rise in 2023 on
taking over Dacian Gold & buying gold assets from its peers Kin
Mining  KIN.AX  & St. Barbara  SBM.AX 
    ** KIN up 6.2% YTD, set to break a two-year losing streak;
while SBM on track to lose 37.8% 
    ** Silver Lake Resources  SLR.AX  is set to end the year
1.7% higher

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Australia Gold Stocks 2023 performance    https://tmsnrt.rs/4ayspFU
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Roshan Thomas and Ayushman Ojha)
 ((Ayushman.Ojha@thomsonreuters.com;))