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ASX gold shares are on the rise on Thursday, with the top four gainers of the S&P/ASX 200 Index (ASX: XJO) all being gold miners.
The S&P/ASX All Ordinaries Gold Index (ASX: XGD) is up 3.21%, while the S&P/ASX All Ordinaries Index (ASX: XAO) is down 0.0087% at the time of writing.
Here’s how some of the ASX gold shares are performing today:
Northern Star Resources Ltd (ASX: NST) shares are up 1.65% to $17.25.
Evolution Mining Ltd (ASX: EVN) shares are up 3.7% to $6.44.
Newmont Corporate CDI (ASX: NEM) shares are up 0.84% to $69.40.
Bellevue Gold Ltd (ASX: BGL) shares are up 6.25% to $1.27.
Capricorn Metals Ltd (ASX: CMM) shares are up 6.05% to $7.89.
Westgold Resources Ltd (ASX: WGX) shares are up 5.53% to $2.58.
West African Resources Ltd (ASX: WAF) shares are up 3.11% to $2.15.
Emerald Resources NL (ASX: EMR) shares are up 2.96% to $4.
Perseus Mining Ltd (ASX: PRU) shares are up 3.31% to a 14-year high of $3.12.
De Grey Mining Limited (ASX: DEG) shares are up 1.77% to $2.02.
Gold Road Resources Ltd (ASX: GOR) shares are up 2.59% to $2.58.
Ora Banda Mining Ltd (ASX: OBM) shares are up 11.73% to a six-year high of $1.07.
The top four risers of the ASX 200 today are Bellevue Gold, Capricorn Metals, Westgold, and West African Resources shares, respectively.
Capricorn Metals has announced the acquisition of a highly prospective project called Kings Find in Western Australia.
Kings Find spans 54 square kilometres and borders Capricorn’s Mt Gibson tenure.
Ora Banda has released “outstanding” drilling results from its Riverina Gold Camp.
The miner said it had intersected two wide, high-grade lodes 400 metres below the surface.
What’s driving ASX gold shares higher today?
Aside from some company news, it’s primarily a strong gold price pushing ASX gold shares up today.
The gold price is trading about 1% higher at US$2,938 per ounce at the time of writing.
According to Trading Economics, the gold price is holding close to record levels due to its safe-haven appeal amid global trade uncertainties and a weaker US dollar.
Tariff turmoil continues to make traders nervous.
The latest drama saw Ontario Premier Doug Ford temporarily suspend a planned 25% surcharge on US electricity exports after US President Donald Trump threatened to double the 25% tariff on Canadian steel and aluminium to 50%.
Trading Economics analysts said:
The ongoing global trade uncertainties, combined with heightened concerns over a US tariff-induced recession, continued to drive investors toward safety assets.
Nervousness over tariffs is the primary reason behind the ASX 200 falling to seven-month lows this week.
The benchmark index is currently down 0.091% to 7,779.1 points.
