ASX gold miners rise as spot gold stays flat
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The news: Gold miners climbed on the ASX as the spot gold price remained flat on Tuesday.
The numbers: West African Resources (8%), Vault Minerals (3.2%), Bellevue Gold (2.5%), Ramelius Resources (1.4%), Northern Star (1.3%) and Capricorn Metals (1.3%) made up six of the top 10 performing ASX 200 companies by 2:30pm AEDT.
Spot gold dipped 0.01% to USD2,642.26 ($3,920.79) per ounce.
The context: West African was the best performer after the gold miner was told by government officials that its mining permits in Burkina Faso are in "good standing".
Elsewhere, Emerald Resources (0.4%) gained after its quarterly production met the top end of its guidance, while Capricorn Metals rose after tracking full-year guidance in the September quarter.
However, materials was the worst-performing sector on the ASX, lowering 1.71%, as a briefing by China's economic agency failed to provide new stimulus announcements.
Among the big cap gold producers, Westgold Resources (-1.4%), Regis Resources (-0.6%) and Perseus Mining (-0.4%) marked the biggest declines.
