Gold stocks rally on fresh tariff uncertainty
Make us a preferred source
Make us a preferred source on Google
The news: Gold miners surged in early trading as bullion prices extended record highs on Thursday.
The numbers: Gold producers made up the top nine performing companies across the ASX 200 at 10:40am AEDT.
Ramelius Resources (4.8%) and its acquisition target Spartan Resources (4%) led the rally.
The broader materials sector was flat as the ASX 200 index lowered 0.3%.
Spot gold prices were holding near a fresh record high of USD3,059.55 an ounce.
The context: Gold prices were seen to benefit from uncertainty caused by new US tariffs on foreign car imports. The move threatens a further escalation in trading tensions as Canada and European Union nations consider retaliatory measures.
