Gold miners slide as bullion prices pull back from record highs
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The news: Gold miners tumbled in morning trade after bullion prices retreated from record highs last week.
The numbers: Gold producers made up six of the 10 worst performing ASX 200 stocks by midday AEST.
Regis Resources (-4.6%), Ramelius Resource (-4.3%) and Vault Minerals (-3.9%) were hit hardest by the selloff.
Bullion was down 1.4% to near USD3,274 an ounce, according to Bloomberg data, and has lost more than 5% since peaking above USD3,500 on Wednesday.
The context: Despite the recent falls, gold is up more than 25% this year, buoyed by US President Donald Trump's tariff measures and concerns about the global economy.
The precious metal has also been supported by inflows into bullion-backed exchange-traded funds and central bank buying.
The source: Bloomberg
