Miners suffer disconnect from gold price
Australian equities held up far better than feared as the market clawed back early losses yesterday to trade close to break-even, but gold stocks still hold prime position.
Australian equities held up relatively well as the market clawed back early losses to end just below par, but the improved sentiment wasn’t enough to displace gold stocks from the leader board as the safe-haven commodity hovers close to its record high.
Gold-exposed mining stocks accounted for five of the 10 best performers on the All Ordinaries Index with the likes of Indophil Resources , Norton Gold Fields and Tiger Resources leading the sector with gains of around 8 per cent each.
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