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Australian Gold Stocks on the Rise Today. Here’s Why?.

Thu 22 May 25, 03:05 AM |

Image source: Shutterstock

Highlights

Australian gold stocks advanced on Wednesday, with the S&P/ASX All Ordinaries Gold Index (.AXGD) rising as much as 3.1% during the session, reaching its highest level since May 8. The sub-index extended its rally for a second consecutive day, supported by an uptick in global bullion prices.

The surge in gold prices was driven by mounting concerns around the U.S. government’s fiscal position and muted demand for its 20-year Treasury bond auction. These developments pushed investors toward traditional safe-haven assets, with gold seeing increased interest amid the uncertainty.

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