Australian Gold Equities On The Rise

It was worth about A$1,843 an ounce on the spot market earlier, headed back towards the $1,871.64/oz reached briefly last month.

Australia and Papua New Guinea gold producer St Barbara (ASX: SBM) was leading the way with a gain of 7.4% in early afternoon trade.

Newcrest Mining (ASX: NCM), which today announced a foray into North America through the US$806.5 million acquisition of 70% of Imperial Metals' Red Chris mine in British Columbia, was the comparative laggard among S&P/ASX200 gold equities with its gain of about 3.5%.