Australian Mining Stocks Advance as Gold Hits New Record

MT Newswires Live

Apr 17, 2025

Australian mining companies rose on Thursday as gold smashed another record, with investors scrambling for safe space amid global uncertainties.

Northern Star Resources (ASX:NST), Evolution Mining (ASX:EVN), and De Grey Mining (ASX:DEG) each climbed more than 1% in recent afternoon trade. Newmont (ASX:NEM) and Genesis Minerals (ASX:GMD) advanced around 0.2%.

The ASX 200's materials sector was up 1.5%.

This comes as gold soared to a new high amid lingering trade-related uncertainties and fears of entering economic recession.

Gold hit as high as $3,360 per ounce early Thursday before settling at around $3,351 per ounce past noon. The commodity is seen as a safe-haven asset in times of heightened market unease.

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