Asian Gold Mining Company Stocks Rise Following Gold Price Increase

Gold mining company stocks in Asia surged sharply after gold prices increased by nearly 4.4% in a single day, reaching $4,523 per ounce.

The rise in gold prices was driven by a weakening dollar and declining yields on U.S. Treasury bonds. Additional support came from the U.S. government debt, which exceeded $40 trillion and increased demand for gold.

The increase in gold prices was quickly reflected in mining company stocks. In Hong Kong, Zijin Gold International rose by nearly 16%, while Zhaojin Mining, Shandong Gold, and Lingbao Gold gained more than 8%.

Australian gold mining company stocks also climbed, including those of Ramelius Resources, Genesis Minerals, Regis Resources, and Evolution Mining.

Source: Investing.com