Influenced by the sustained decline in gold and silver prices since last weekend, share prices in Australia's precious metals and other commodity-related sectors trended lower. The price of gold fell by as much as 4% on Monday, extending its losing streak. The price of silver plummeted by up to 12%, having just recorded its largest single-day drop in history this past Friday. Indian metal stocks and gold credit institution shares had already fallen on Sunday. Australian gold mining stocks saw significant declines: Pantoro Gold dropped 13%, Westgold fell 11%, Vaullt Minerals declined 12%, Ramelius Resources was down 11%, Emerald Minerals decreased 12%, and Northern Star Resources fell 10%. Copper producers also declined, with BHP Group down 2.7% and Rio Tinto falling 1.9%.
Comments