Why are ASX 200 gold stocks surging again on Thursday?

MotleyFool03-21

S&P/ASX 200 Index (ASX: XJO) gold stocks are shining bright again today. During the Thursday lunch hour, the ASX 200 is up a healthy 0.5%. But the S&P/ASX All Ordinaries Gold Index (ASX: XGD) – which ...

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Northern Star Resources Ltd  shares are up 3.1%. Gold Road Resources Ltd  shares are up 1.1%. ASX 200 gold stocks, including Northern Star and Newmont, look to have gotten a big boost following yesterday's US Federal Reserve meeting .While the US benchmark rate was left unchanged in the range of 5.25% to 5.50%, Powell spurred investor exuberance by flagging that interest rate reductions were looking likely in 2024.With bullion resetting new all-time highs, investors are piling into ASX 200 gold stocks today.Income investors may be hoping that 2024's 7% increase in the gold price could usher in boosted divid","collect":0,"end_time":0,"defaultTopTitle":"fool.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"XJO.AU":"标普/澳交所 200指数","EVN.AU":"EVOLUTION MINING LTD","NEM.AU":"Newmont Corp","RMS.AU":"RAMELIUS RESOURCES LTD","BK7507":"资源股","BK7506":"金矿股","BK7104":"黄金","NST.AU":"NORTHERN STAR RESOURCES LTD","DEG.AU":"DE GREY MINING LTD","BGL.AU":"BELLEVUE GOLD LTD","GOR.AU":"GOLD ROAD RESOURCES LTD"},"translate_title":"为什么ASX 200黄金股周四再次飙升？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BGL.AU":1,"DEG.AU":1,"EVN.AU":1,"GOR.AU":1,"NEM.AU":1,"NST.AU":1,"RMS.AU":1,"XJO.AU":1},"content_text":"S&P/ASX 200 Index (ASX: XJO) gold stocks are shining bright again today.\nDuring the Thursday lunch hour, the ASX 200 is up a healthy 0.5%.\nBut the S&P/ASX All Ordinaries Gold Index (ASX: XGD) – which also contains some smaller gold shares outside of the ASX 200 – is leaving those gains in the dust, surging 3.3% at this same time.\nHere's how these leading ASX 200 gold stocks are tracking in intraday trade:\n\nNorthern Star Resources Ltd (ASX: NST) shares are up 3.1%\nNewmont Corp (ASX: NEM) shares are up 3.3%\nDe Grey Mining Ltd (ASX: DEG) shares are up 5.0%\nRamelius Resources Ltd(ASX: RMS) shares are up 5.6%\nGold Road Resources Ltd (ASX: GOR) shares are up 1.1%\nEvolution Mining Ltd (ASX: EVN) shares are up 5.2%\nBellevue Gold Ltd (ASX: BGL) shares are up 5.8%\n\nSo, what's driving today's big gains?\nASX 200 gold stocks surge on US Fed meeting\nASX 200 gold stocks, including Northern Star and Newmont, look to have gotten a big boost following yesterday's US Federal Reserve meeting (overnight Aussie time).\nThis saw Fed chair Jerome Powell indicate the world's top central bank still was waiting for more evidence that inflation is returning to its 2% target range before cutting interest rates.\nWhile the US benchmark rate was left unchanged in the range of 5.25% to 5.50%, Powell spurred investor exuberance by flagging that interest rate reductions were looking likely in 2024.\n\"It is still likely in most people's view that we will achieve that confidence and there will be rate cuts,\" he said.\nAtop sending the S&P 500 Index (INDEXSP: .INX) up 0.9% to close at another record high, the gold price soared 1.4% to US$2,197.29 per ounce. And earlier today, bullion broke into new record territory of US$2,220.89 per ounce, according to data from Bloomberg.\nGold, which pays no yield itself, tends to perform better in lower or falling rate environments.\nWith bullion resetting new all-time highs, investors are piling into ASX 200 gold stocks today.\nIncome investors may be hoping that 2024's 7% increase in the gold price could usher in boosted dividends from the big Aussie gold producers in the second half of the year.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2421203569"}