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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