ASX gold miners tumble as spot gold holds near one-month low
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The news: Gold miners led declines on the ASX after spot gold fell to a one-month low on Monday.
The numbers: Gold stocks made up seven of the worst 10 performing ASX 200 companies by 1:15pm AEDT.
Vault Minerals (-7%), Bellevue Gold (-6.2%), West African Resources (-5.9%), Newmont Corporation (-4.5%), Capricorn Metals (-4.2%), Emerald Resources (-3.8%) and Ramelius Resources (-3.8%) all traded lower.
Materials, down 1.61%, was the worst performing sector as the wider market fell 0.33%.
Bullion was steady on Tuesday after sliding 2.5% in the previous session, according to Bloomberg data.
The context: The US dollar continued to rise on Monday, with gains linked to US economic growth and trade tariffs expected under president-elect Donald Trump.
Meanwhile, gold has fallen more than 4% since last week's US election, with a stronger US dollar making commodities priced in the currency more expensive for most buyers.
The source: Bloomberg
