ASX gold stocks have slumped with the precious metal since news of a promising COVID‐19 vaccine hit, but some experts believe it can still rebound to a record in 2021.
The price of the precious metal tumbled around 4% in the past week to US$1,877 an ounce. This triggered a 4% slide in the Newcrest Mining Limited (ASX: NCM) share price, 6% decline in the Evolution Mining Ltd (ASX: EVN) share price and 11.5% drop in the Northern Star Resources Ltd (ASX: NST) share price.
In contrast, the S&P/ASX 200 Index (Index:^AXJO) climbed around 3% over the same period. ASX gold stocks losing their glitter
Gold’s lost some of its lustre on growing confidence that the world would soon emerge from the pandemic.It’s also been on a backfoot since media organisations declared Joe Biden the new US president while the Senate remains in Republican hands.This means Biden will find it hard […]
November 15, 2020 (updated November 15, 2020) Published by StockMan