CANBERRA: As the spot gold price has soared, so too have Australia’s gold miners. Since July 6, 2015, Newcrest Mining Limited (ASX: NCM), Evolution FPO (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) have seen their share prices rise 99.6%, 122% and 142% respectively.
They aren’t the only ones of course. Several smaller miners have seen their share prices rocket…acian Gold Ltd (ASX: DCN) is up 637%, St Barbara Ltd (ASX: SBM) is up 500%, while Resolute Mining Limited (ASX: RSG) and Silver Lake Resources Limited (ASX: SLR) are up 408% and 314% respectively. Plenty of other ASX-listed gold miners have also seen their share prices more than double.
A year ago the spot gold price was trading around US$1,150 an ounce. Overnight it closed at US$1,341.90 as increased uncertainty abounds in global markets. Brexit, continuing European dramas, the upcoming US election, interest rate changes by the US Federal Reserve and a slowing Chinese economy have all been major worries for investors over the past year. Additionally, the Australian dollar plunged below US 70 cents in early January 2016, and is currently trading at around the same level as it was a year ago – ~US 75 cents.
