Markets
Gold surges above US$4,000 as weaker dollar powers ASX miners
News Gold has surged back above US$4,000 an ounce, triggering a strong rally across Australian precious metals stocks as a weaker US dollar and falling Treasury yields boost demand for bullion. Gold futures were trading around US$4,074 an ounce after climbing more than 3% overnight, with the move flowing directly into the ASX gold sector. Evolution Mining rose more than 8%, Newmont gained around 9% and Genesis Minerals jumped more than 11% in morning trade, while Northern Star Resources added almost 6%. The broader ASX All Ordinaries Gold Index was up close to 9%. The rally followed a sharp retreat...
www.proactiveinvestors.com.au2 min read
