Australian mining companies rose on Thursday as gold smashed another record, with investors scrambling for safe space amid global uncertainties.
Northern Star Resources (ASX:NST), Evolution Mining (ASX:EVN), and De Grey Mining (ASX:DEG) each climbed more than 1% in recent afternoon trade. Newmont (ASX:NEM) and Genesis Minerals (ASX:GMD) advanced around 0.2%.
The ASX 200's materials sector was up 1.5%.
This comes as gold soared to a new high amid lingering trade-related uncertainties and fears of entering economic recession.
Gold hit as high as $3,360 per ounce early Thursday before settling at around $3,351 per ounce past noon. The commodity is seen as a safe-haven asset in times of heightened market unease.
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