The S&P/ASX 200 Index (ASX: XJO) is having a tough time of it today.
At time of writing, the ASX 200 is down 2.7%, having earlier posted losses of more than 2.9%.
You need only open a newspaper or any news website to gather why.
The simmering tensions between Russia and Ukraine have heated up. Russia claims that 2 separatist enclaves within Ukraine have asked Vladimir Putin for military help. Political analysts in the West are warning that an invasion is increasingly likely.
Tech shares have been particularly hard hit, with the S&P/ASX All Technology Index (ASX: XTX) down 3.9% today.
But not all shares are joining in the ASX 200 selloff.
ASX 200 gold shares shining bright amid haven demand
Gold is again living up to its historic role as a haven asset in times of turmoil.
The yellow metal gained another 0.2% overnight and is currently trading for US$1,913 per troy ounce. That’s up almost 7% from the US$1,791 per ounce gold was fetching on 28 January, according to data from Bloomberg.
And this is seeing ASX 200 gold shares buck today’s losing trend.
Here’s what we mean…
The Newcrest Mining Ltd (ASX: NCM) share price is up 1.1% today, to $24.84 per share. Newcrest shares are now up 1.3% in 2022.
The Evolution Mining Ltd (ASX:EVN) share price is leaping higher too, up 1.6%. Evolution shares have gained 4.2% year-to-date.
And Northern Star Resources Ltd (ASX: NST) shares are leading the charge, currently up 3.4% to $10.34 per share. The Northern Star share price is now up 9.3% this year.
Junior gold miners gaining too
But it’s not just the ASX 200 listed gold share that are broadly gaining today.
At time of writing, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is up 1.8%.
While not every ASX gold miner is in the green, the sector is certainly shining brightly today.
The post ASX 200 gold shares shining bright amid market selloff appeared first on The Motley Fool Australia.
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More reading
- These are some of the only ASX shares in the green today. Here’s why
- 5 things to watch on the ASX 200 on Thursday
- 5 things to watch on the ASX 200 on Wednesday
- Here are the top 10 ASX shares today
- Here’s why the Northern Star (ASX:NST) share price had such a stellar day
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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 Bruce Jackson.
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