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Highlights
- Gold prices hit fresh record, boosting gold miners
- Top-performing stocks on ASX 200 dominated by gold sector
- Major gold project deal boosts investor sentiment
Gold miners led a powerful rally on the ASX, kicking off the week with strong momentum as gold prices surged to a fresh all-time high, trading above $US3200 an ounce on Monday. The continued climb in the precious metal's value is fueling investor enthusiasm across the sector.
Among the strongest early performers were Westgold Resources (ASX:WGX), Stanmore Resources (ASX:SMR), and Newmont Corporation (ASX:NEM), each posting gains of over 3%. Westgold Resources stood out with a jump of more than 5% in early trade, riding the wave of gold’s sustained strength.
Gold’s recent rally has been driven by growing global uncertainty and shifting geopolitical tensions. The ongoing discussions in Washington around tariffs have contributed to market volatility, pushing demand toward traditional safe haven assets. Gold has been a clear beneficiary, setting multiple record highs in recent weeks.
The performance of gold miners has not gone unnoticed. As of year-to-date, nine of the top ten stocks on the ASX 200 are from the gold sector, underlining how heavily the index is being influenced by the surge in gold prices.
Adding to the bullish atmosphere, Gold Road Resources (ASX:GOR), the largest shareholder of De Grey Mining (ASX:DEG), has confirmed support for Northern Star Resources’ (ASX:NST) proposed $5 billion acquisition of De Grey. This move would mark the highest valuation ever assigned to a potential Australian gold project. The news has been taken as a significant vote of confidence in the future of the local gold mining industry, reinforcing optimism around long-term growth prospects in the sector.
This landmark deal has further energized market sentiment, not only due to its scale but also due to the strategic alignment it signals within the industry. The consolidation is seen as a major step in shaping Australia's gold production landscape and strengthening global competitiveness.
As gold continues its upward trajectory, the spotlight remains firmly on the miners benefiting from the boom. With record-breaking valuations and major deals reshaping the sector, the momentum in gold stocks has quickly become one of the dominant narratives of the ASX in 2025.
