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Highlights

  • Australian gold sub-index .AXGD rises 1.7%, highest single-day gain since mid-June
  • Northern Star Resources (ASX:NST) and Evolution Mining (ASX:EVN) gain 1.9% and 1.8% respectively
  • Gold sub-index up 37.2% year-to-date, outperforming broader ASX 200

Australian gold stocks advanced on Tuesday, with the S&P/ASX All Ordinaries Gold Index (AXGD) rising 1.7%, the sharpest intraday percentage gain since mid-June. The sub-index briefly surged as much as 2.1% during the session before slightly paring gains. This marks a second consecutive session in positive territory for the sector.

The gains were driven by firmer gold prices in global markets, supported by a weaker U.S. dollar. Investors are awaiting key economic indicators from the United States later this week, which may provide clearer direction on the Federal Reserve’s monetary policy outlook.

The broader S&P/ASX 200 benchmark index (AXJO) was also higher, gaining 0.3% during the session. However, the gold sub-index significantly outperformed, buoyed by notable movements in major mining stocks.

Northern Star Resources Ltd (ASX:NST) rose 1.9%, while Evolution Mining Ltd (ASX:EVN) added 1.8%. Both companies are among the top constituents of the .AXGD sub-index and contributed to the day’s sector-wide upswing.

As of the last close, the gold sub-index has gained 37.2% year-to-date, outpacing the broader market and reflecting sustained investor interest in the sector amid macroeconomic uncertainty and inflationary pressures.

With gold prices holding firm and market attention turning to U.S. inflation and labor data due later this week, sector performance may remain sensitive to policy signals from the Federal Reserve. A continued softening in the dollar could further support gold miners in the near term.