Sino, Newcrest shares boosted on strong gold price

Sino, Newcrest shares boosted on strong gold price

Australia’s gold mining companies saw their stock price soar as the price of gold was boosted overnight.

Sino Gold Mining (ASX:SGX) stocks jumped 7.2% to $7.29, Newcrest Mining climbed 6.4% to $35.04, while Lihir Gold increased 5.1% to $3.12.

The price of gold meanwhile is trading at $1169.31 per ounce in the US, up 12.8% from the previous day.

Analysts have pinned the surging prices on a further drop in the US dollar.

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Tags goldLihir GoldNewcrest MiningSino Gold Miing

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