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Gold miners in favour

The spot gold price was lower today but Australian gold miners were up in the wake of US president Donald Trump’s widely anticipated move to scrap a nuclear deal with Iran.
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Saracen among Australian market risers

Staff reporter

The S&P/ASX200's gold sector was in positive territory in late trade, with Saracen Mineral Holdings' (ASX: SAR) rise of 3.6% one of the top gains.

Miner Regis Resources (ASX: RRL) was up close to 3% late afternoon, and St Barbara (ASX: SBM) was up close to 2.4% at the time of writing.

It was the opposite case for gold stocks in London yesterday, where precious metals miner Fresnillo (LSE: FRES) posted one of the bigger drops on the FTSE100 of 2.44%.

The gold price has moved between about US$1,306 and $1,316 an ounce in the past 24 hours and was recently trading at $1,308/oz.

The metals and mining sector had closed up slightly in Toronto yesterday, where gold miner IAMGOLD (TSX: IMG) closed 8.88% higher in the wake of reporting an "outstanding" quarter.

Hudbay Minerals (TSX: HBM) was among the diversified mining equities to close lower in Toronto, down 2.44% yesterday.

Finally, back in the US, the S&P500 metals and mining sector managed a slight gain yesterday to close up 0.07%.