- The Australian market traded on a positive note on Tuesday, led by gains in miners.
- The gold miners were the top gainers in the intra-day trade.
- Over the last five days, the ASX 200 has gained 0.34% and was currently 0.55% off its 52-week high.
The ASX 200 traded in the positive territory, led by gains in the miners, just ahead of the Reserve Bank of Australis’s meeting. Over the last five days, the ASX 200 has gained 0.34% and was currently 0.55% off its 52-week high.
Heavyweight miners were the top boosts to the domestic equity benchmark ASX 200. The gold miners were the top gainers. Among losers, technology stocks fell 0.78% after the tech-heavy NASDAQ Composite. Aussie tech companies slipped as much as 2%. Banking stocks were down 0.3% during the trade.
Silver Lake Resources Ltd (ASX:SLR)
The stock of the ASX-listed gold producer rose as high as 7.6% to the day’s high of AU$1.83. The gold miner surged owing to weakness in bond yield and US dollar.
The gold shares have performed on a strong note in the past few days following the US Federal Reserve’s decision to keep rates on hold.
Ramelius Resources Ltd (ASX:RMS)
The stock surged just over 6% to AU$1.74. The stock surged for the same reason as other gold miners. In April, Ramelius Resources said that it has met its gold production guidance for the March quarter.
Source: © Sadeq68 | Megapixl.com
Northern Star Resources Ltd (ASX:NST)
The stock of the gold miner surged over 5.4% to the intra-day high of AU$11.05. The stock gained after the analysts said that Northern Star Resources' growth in ore reserves and mineral resources showed exploration at Kalgoorlie Consolidated Gold Mines (KCGM) was far from exhausted. The global brokerage Jefferies said that the growth in reserves demonstrate "the low hanging fruit" at KCGM.
Source: © Ymgerman | Megapixl.com
Regis Resources Ltd (ASX:RRL)
The stock rose just over 5% to AU$2.70. The company recently reported that it had produced 85,748 ounces of gold during the March quarter, down from the 91,411 ounces in the second quarter. The total revenue stood at AU$135.7 million.
Resolute Mining Ltd (ASX:RSG)
The gold miner soared just over 4% to AU$0.50. The company’s stock received a boost following its recent first quarter update, which was considered not as bad as feared earlier.