NCM, PRU, SLR, GOR: Why did ASX gold stocks trade in red today?

Highlights: 

• ASX200 gold miners registered considerable losses, despite the Materials sector gaining 362 points on the ASX today. 
• The S&P/ASX200 Materials sector closed 2.462% strong at 15,062.300 on the ASX today.

The interest rate hike by the Reserve Bank of Australia (RBA) has impacted almost every business sector in Australia. Gold industry is not an exception. 

Although the S&P/ASX200 Materials sector was found performing well on the ASX today, majority of gold stocks were seen buzzing in the red territory. 

Besides the interest rate hike by RBA and inflation fears, gain in US dollars is likely another reason influencing the share market. As a result, the gold stocks are unable to perform well on the ASX.

Meanwhile, the S&P/ASX200 Materials sector (INDEXASX:XMJ) closed 2.462% higher at 15,062.300 on the ASX. 

Here, we have considered four well-known ASX-listed gold stocks from the ASX200 materials sector- Newcrest, Perseus, Silver Lake, and Gold Road and tried to look into their respective ASX performances.   

Newcrest Mining Limited (ASX:NCM) 

Newcrest Mining Limited (ASX:NCM) happened to follow the sectoral trend today as it closed 0.765% up at AU$19.750 per share.

Speaking of Newcrest’s share price overview, the company has lost more than 23% in last one year. Faring all the challenges, the company fell almost by 18% in last six months (as of 4:10 PM on the ASX today, 7 July). 

Perseus Mining Limited (ASX:PRU) 

The next noteworthy gold stock in the list is Perseus Mining Limited (ASX:PRU). Perseus shares ended in the red territory today, shedding 1.5% at AU$1.575 per share on the ASX (7 July). 

Even though Perseus closed down today, its overall share price performance in last one year does not disappoint much. The ASX-listed gold miner gained almost 1% on the ASX in a year. On a YTD (year-to-date) basis, however, Perseus’ share price fell over 4% (as of 4:10 PM AEST on the ASX today, 7 July).  

Image source: © Bashta | Megapixl.com

Silver Lake Resources Limited (ASX:SLR) 

The next gold mining giant in our list is Silver Lake Resources Limited (ASX:SLR). Silver Lake is another gold mining stock that has buzzed in the red territory today. Its share price was quoted at AU$1.255 per share, down 1.568% on the ASX (7 July). 

Silver Lake’s business has been highly impacted in last one year, as its shares badly fell prey to the market volatility. The share price lost almost by 28% in a year and showed a similar pattern, losing more than 28% on Y-T-D basis.

Gold Road Resources Limited (ASX:GOR) 

Lastly, there is Gold Road Resources Limited (ASX:GOR), that ended 1.351% lower at AU$1.095 per share on the ASX today (7 July). 

Gold Road’s share price performance depicts several ups and downs in its business in past one year. The company’s share price dropped 17.05% on the ASX in a year while, on YTD basis, it shed off more than 30% (as of 4:10 PM AEST on the ASX today).