Gold miners fall as bullion price slides from record high
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The news: Australian gold stocks lowered in morning trade as spot gold retreated from a new record high.
The numbers: Gold miners Perseus Mining (-3.6%), Ramelius Resources (-2.5%) and Vault Minerals (-2.4%) were worst hit by the selloff by midday AEDT.
Materials, down 0.45%, was the worst performing sector as the ASX 200 index added 0.17%.
Spot gold was last down 0.15% to USD2,893.57 an ounce, according to Bloomberg data.
The context: Gold prices dipped as investors booked profits after the precious metal reached a record high of USD2,942.70 ($4,675.9), Reuters reported.
Bullion extended gains this week after US President Donald Trump announced blanket 25% tariffs on steel and aluminium imports "without exceptions or exemptions", with the new measures kicking in on 4 March.
Traders will also monitor new US inflation data later today, with expectations that the tariffs could fuel inflation and delay further rate cuts.
