Gold futures soared more than US$40 an ounce as the U.S. government's deal to temporarily avoid a debt default and reopen operations raised the possibility that the Federal Reserve will delay tapering its stimulus program - which will support ASX-listed 'gold plays' today.
December gold rose 3.2% to finish at US$1,323 an ounce on the Comex division of the New York Mercantile Exchange.
That was the strongest close in more than a week and largest single-session gain since September 20.
In the spot market the yellow metal last traded at US$1322 an ounce.
ASX gold plays to trade higher
The climbing gold price will support shares in Australian Stock Exchange listed gold miners today.
An extra plus for domestic producers is that with the recent pull-back in the Australian dollar v. U.S. dollar, bullion in the local currency is now back to around A$1380 an ounce.
Producers to watch on the ASX today include Silver Lake Resources (ASX:SLR), Millennium Minerals (ASX:MOY), Medusa Mining (ASX:MML) and Newcrest Mining (ASX:NCM).
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.