Shares of Australian gold miners surged on Monday morning as gold prices traded near a one year high, bucking the wider trend in Australian markets.
Gold traded at $1,977.70 per ounce on Monday, its highest level since April 2022.
Evolution Mining led the gold mining sector as its shares jumped 11.05%, while Newcrest Mining and Kingsgate Consolidated also saw gains of 5.58% and 3.36% respectively. The wider S&P/ASX 200 was down 1.2%.
This article was originally published by CNBC.