Australia's ASX-listed gold miners have gone for a gallop in early trading, thanks to a 0.5% increase in the spot gold price overnight.
Gold gained 0.5% to US$1,269.99 an ounce overnight, but in Australian dollar terms, that's near on A$1,700 an ounce. With many miners reporting production expenses in the A$1,000 to A$1,100 range, that's a lovely margin to be working with.
| Company | Share Price | Market Cap ($m) | Price change |
| Ramelius Resources Limited (ASX: RMS) | $0.42 | $219.0 | 11.2% |
| Resolute Mining Limited (ASX: RSG) | $1.25 | $917.5 | 5.5% |
| Silver Lake Resources Limited. (ASX: SLR) | $0.47 | $239.3 | 4.4% |
| Northern Star Resources Ltd (ASX: NST) | $4.46 | $2,678.4 | 4.7% |
| Perseus Mining Limited (ASX: PRU) | $0.32 | $327.5 | 3.9% |
| St Barbara Ltd (ASX: SBM) | $2.65 | $1,320.4 | 4.1% |
| Saracen Mineral Holdings Limited (ASX: SAR) | $0.91 | $736.5 | 4.2% |
| Regis Resources Limited (ASX: RRL) | $3.28 | $1,643.3 | 3.5% |
| Beadell Resources Ltd (ASX: BDR) | $0.24 | $292.3 | 3.0% |
| Evolution Mining Ltd (ASX: EVN) | $2.33 | $3,912.5 | 3.8% |
Source: Google Finance
Global uncertainty including tensions over Syria and North Korea means investors rush into gold as a safe haven, which has seen the metal trade as high as US$1,295 an ounce so far this year.
The uncertainty over the French election also weighed on the gold price, but markets are now expecting conservative Emmanuel Macron to win the second round which could see the gold price come under pressure.
Resolving issues with North Korea could also see the gold price under more pressure, and it seems the overwhelming direction for the gold price is down.
