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Santa brings a present for gold stocks as the commodity rallies over Christmas

The gold price has increased around US$25 this week breaking through US$1,500 per ounce over the Christmas holiday.

Newcrest Mining Limited - Santa brings a present for gold stocks as the commodity rallies over Christmas
With the AUDUSD at 0.692, the gold price in AUD is trading around A$2,170 per ounce

The Australian Stock Exchange closed early at 2.10pm on December 24th and remained closed for Christmas and Boxing Day.

It will, however, be open tomorrow, with gold stocks expected to benefit from some positive movements in the commodity price.

Gold has been moving higher over the past few days, trading around US$1,503 per ounce.

Trading on Tuesday reflected this move in gold with some solid gains.

ASX large-cap gold stocks like Newcrest Mining Limited (ASX:NCM) and Northern Star Resources Ltd (ASX:NST) were up 2.4% and 1.6% respectively.

Gold Road Resources Ltd (ASX:GOR) was one of the top performers up 7.6% or 8.5 cents on the day to $1.20 per share.

Perseus Mining Ltd (ASX:PRU) was up 3% and Resolute Mining Limited (ASX:RSG) up 5.8% further representing a positive day for ASX gold stocks on Tuesday.

One of the more influential gold ETFs, the GDXJ VanEck Vectors Junior Gold Miners ETF, which trades in the US, was also up 3.7% Tuesday night Australian time.  

Quick facts: Newcrest Mining Limited

Price: 30.68 AUD

Market: ASX
Market Cap: $25.04 billion

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