Gold stocks lead ASX gains as bullion price rises
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The news: Gold miners led gains in morning trade on the ASX as the spot gold price edged higher.
The numbers: Gold explorers Regis Resources (4.8%), Vault Minerals (3.9%), Capricorn Metals (3.8%), Emerald Resources (3.2%), De Grey Mining (3.1%) and West African Resources (3%) made up six of the best 10 performing stocks across the ASX 200 by 11:15am AEDT.
The materials sector lowered 0.1%, in step with the wider market. Spot gold was up 0.16% to USD2,634.06 ($3,908.68) per ounce.
The context: Regis Resources extended gains after reporting an increase in cash on the back of gold higher prices on Thursday.
Capricorn Metals and West African continued to rise after reaffirming full-year guidance this week, despite lower production levels in the September quarter.
Elsewhere, Emerald Resources moved higher after reporting quarterly production at the upper end of guidance on Tuesday. Meanwhile, De Grey lifted yesterday after telling investors that it was on track to earn a 50% joint venture interest in the Egina gold project in Western Australia.
