Shares of Northern Star Resources (ASX:NST), Evolution Mining (ASX:EVN), and Newmont (ASX:NEM) each fell around 1% on Wednesday despite gold prices surging past $3,700 an ounce for the first time amid growing expectations of a US Federal Reserve rate cut, a weaker dollar, and persistent safe-haven demand.
Gold prices rose 0.3% to $3,690.59 per troy ounce after hitting a record high of $3,702.95 earlier in the session.
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