ASX gold shares are surging as they recover from yesterday’s rout and respond to the gold price breaking through US$4,900 per ounce.
The gold price is up 0.5% to US$4,958 per ounce, a new record, at the time of writing.
ASX gold shares and ASX gold ETFs are going nuts on Friday.
Get this: the S&P/ASX All Ords Gold Index (ASX: XGD) soared 1,322 points higher to a record 21,612.2 points this morning.
That equates to a staggering 6.5% gain in one day. By comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.34%.
The screaming gold price continues to defy expectations.
Just three months ago, top broker Goldman Sachs predicted that gold would rise to US$4,900 per ounce by the end of 2026.
Well, that happened today, and it’s only January.
The broker conducted a poll of institutional investors in November and found one in three expect gold to go above US$5,000 per ounce.
That seems increasingly likely.
The gold price is up by just under 15% in the year to date.
The market pushed the yellow metal 7% higher this past week alone after US President Donald Trump slapped a new 10% tariff on goods from eight European nations to punish their opposition to his aspirations to buy Greenland.
The gold price rocketed 65% in 2025, following a 27% gain in 2024, largely due to central banks diversifying away from the US dollar.
Let’s see what ASX gold shares and ETFs are doing today.
Hold on to your hats… this is going to be fun.
ASX gold shares soar as gold price hits new record
Let’s focus on the large-cap ASX gold shares first.
The Northern Star Resources Ltd (ASX: NST) share price is up 6.23% to $27.81.
Northern Star shares dropped 8.1% yesterday after the miner disappointed the market with its December quarter report.
Northern Star’s report, significant because it’s the largest gold miner by market cap on the ASX, combined with news of lower unemployment in Australia, which raised the prospects of an interest rate hike this year, weighed on gold shares and ETFs yesterday.
The Evolution Mining Ltd (ASX: EVN) share price is up 6.59% to $15.04.
Newmont Corporation CDI (ASX: NEM) shares are up 4.64% to $179.90 apiece.
Among the mid-cap ASX gold shares, Ramelius Resources Ltd (ASX: RMS) shares are up 8.3% to $4.96.
The Greatland Resources Ltd (ASX: GGP) share price is up 9.81% to $14.22.
The Genesis Minerals Ltd (ASX: GMD) share price is $8.06, up 8.04%.
Perseus Mining Ltd (ASX: PRU) shares are up 6.6% to $6.46 apiece.
Westgold Resources Ltd (ASX: WGX) shares are up 6.67% to $7.76.
The Capricorn Metals Ltd (ASX: CMM) share price is up 4% to $15.47.
Vault Minerals Ltd (ASX: VAU) shares are up 4.76% to $5.94 apiece.
Regis Resources Ltd (ASX: RRL) shares are up 8.64% to $8.24.
How about ASX small-cap gold shares?
Among the small-cap ASX gold shares, Resolute Mining Ltd (ASX: RSG) shares are up 8.14% to $1.40.
The Pantoro Gold Ltd (ASX: PNR) share price is 5.83% higher at $5.45.
Meeka Metals Ltd (ASX: MEK) shares are up 3.57% to 29 cents.
Kingsgate Consolidated Ltd (ASX: KCN) shares are up 2.48% to $7.03 apiece.
The Golden Horse Minerals Ltd CDI (ASX: GHM) share price is 0.64% higher at 79 cents.
Black Cat Syndicate Ltd (ASX: BC8) shares are up 5.24% to $1.56.
(By the way, Warwick Grigor, an analyst at Far East Capital, offered some advice on how to select small-cap gold stocks to buy this week.)
What about ASX gold ETFs?
The Betashares Global Gold Miners Currency Hedged ETF (ASX: MNRS) streaked 4.87% to a record $18.94 per unit today.
MNRS was the best performer among the 423 ETFs on the Australian share market last year.
The VanEck Gold Miners AUD ETF (ASX: GDX) is up 4.54% to $157.45.
Perth Mint Gold (ASX: PMGOLD) is up 2.29% to $71.92 per unit.
Global X Physical Gold (ASX:â¯GOLD) is up 2.63% to $66.27 per unit.
VanEck Australian Resources ETF (ASX: MVR), the No. 1 performer among ETFs holding ASX shares in 2025, is up 1.22% to $47.41.
The post ASX gold shares go crazy as gold price rips toward US$5,000 on Friday appeared first on The Motley Fool Australia.
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More reading
- Brokers name 3 ASX shares to buy today
- Up 145% in 12 months: Why it isn’t too late to buy Regis Resources shares
- Two ASX 200 stocks to buy after crashing 6-9% yesterday
- 5 things to watch on the ASX 200 on Friday
- Bell Potter says this ASX 200 gold share is a buy with 18% upside
Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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