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Gold stocks in demand

The spot gold price was about US$10 an ounce higher than this time yesterday at $1,333/oz, as US president Donald Trump’s talk of a trade war prompted market jitters, and gold equities gained accordingly.
Gold stocks in demand Gold stocks in demand Gold stocks in demand Gold stocks in demand Gold stocks in demand

Gold equities were a top pick

Staff reporter

Among the larger capitalised stocks in Australia, gold miners were three of the top five gainers today.

Resolute Mining (AU:RSG) rose 3.4% and both Regis Resources (AU:RRL) and Newcrest Mining (AU:NCM) closed up around 2%.

In the US, Newmont Mining (US:NEM) rose 1.49% yesterday, while steel manufacturer Nucor Corp (US:NUE) was US8c lower at $67.78 but still about $1 higher than a week ago prior to Trump's proposal for steel and aluminium tariffs.

North of the border, diversified Ivanhoe Mines (CN:IVN) continued to regain lost ground.

It closed 3.93% higher but remains down about 25% year-to-date, having slumped around five weeks ago on concerns over a new mining code in the Democratic Republic of Congo.

London-listed gold miner Randgold Resources (LN:RRS) gained 2.09% yesterday.

Finally, diversified Anglo American (LN:AAL) rose 3.96% after announcing continued demand for rough diamonds and being named the "top pick of the majors" by an investment bank, due to its current undervaluation.

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