Evolution Mining (ASX:EVN) Drops 2% as Gold Price Retreats

Wed 04 Jun 25, 02:32 AM |

Highlights

Evolution Mining shares fall 2% amid a global decline in gold prices.

Sector-wide drop pulls ASX Gold Index down 0.7% on Wednesday.

Global macro uncertainty drives investor retreat from precious metals stocks.

Evolution Mining Ltd (ASX: EVN) shares dropped 2% on Wednesday to AUD9.30 as gold prices retreated in global markets. The weakness extended across Australia’s gold sector, with the S&P/ASX All Ordinaries Gold Index falling 0.7% for the day.

The drop in gold prices overnight followed strengthening in the U.S. dollar and signs that central banks may delay expected interest rate cuts. These macroeconomic factors weighed on the demand for gold, a traditional safe-haven asset, leading to a pullback in prices.

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