Gold is regaining some lustre in the spot market, with the yellow metal currently trading 1.3% higher at US$1254 an ounce, building on the futures market gains overnight.
Australian domiciled gold producers are rallying on the rise, while also benefiting from the fall in the Australian dollar to the U.S. dollar, which has gold in the local currency at over A$1370 an ounce.
Ramelius Resources (ASX: RMS) has soared 19% intra-day to $0.125, with the company today announcing a record gold pour for the June quarter of 17,100 ounces from the company's Mt Magnet gold project, which is a 17.5% over the preceding three months.
In other market movers, Silver Lake Resources (ASX: SLR) has jumped 5.8% to $0.64, with Northern Star Resources climbing 4.2% to $0.625.
Newcrest Mining (ASX: NCM) though continues to struggle, and is down 1.8% to $9.72.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.