ASX gold shares are bucking the wider selling trend gripping share markets today.
While the All Ordinaries Index (ASX: XAO) is down 1.2% in afternoon trading, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) has gone the other way, up 4.3%.
ASX gold shares are enjoying the fruits of fast rising gold prices.
Gold’s historic haven status has been on clear display over the past month.
Investors, already skittish about unexpectedly fast rising inflation figures, have been piling into gold following Russia’s invasion of Ukraine.
The continued buying spree sent the price of the yellow metal up another 1% over the past 24 hours, to US$1,990 (AU$2,687) per troy ounce, according to data from Bloomberg. That’s up from US$1,820 per ounce this time last month. And it’s up from US$1,684 per ounce a year ago.
That’s creating a big lift for the ASX Gold Index, and it’s seeing 3 ASX gold shares hit new 52-week highs today.
3 ASX gold shares hitting 52-week highs
The first ASX gold share notching up new 52-weeks high is Perseus Mining Ltd (ASX: PRU).
Perseus has numerous gold projects underway in West Africa. In February, the miner reported strong half year results, including a 90% year-on-year leap in revenue ($564 million in H1 FY22) and a 101% increase in earnings before interest, tax, depreciation, and amortisation (EBITDA).
The Perseus share price is up 4.1% in afternoon trading, currently at $1.90. That gives the miner a market cap of $2.24 billion.
The second ASX gold share hitting fresh 52-week highs is Capricorn Metals Ltd (ASX: CMM).
Capricorn has projects in Australia and Madagascar. Its Karlawinda gold project is located in Western Australia.
For the December quarter, Capricorn reported a boost in its gold production to 30,316 ounces, up from 24,329 ounces the previous quarter.
The Capricorn share price is up 2.2% to $3.86 per share. That gives the company a current market cap of $1.41 billion.
Rounding off the list of ASX gold shares hitting 52-week highs today is Gold Road Resources Ltd (ASX: GOR).
The Gold Road share price is soaring 5.7% in late afternoon trade, currently at $1.68 per share. At that price that gold miner has a market cap of $1.40 billion.
Among its projects, the gold producer has a Tier 1 mine and exploration projects in Western Australia.
Gold Road pays a 1.2% dividend yield, fully franked.
The post 3 ASX gold shares rocking new 52-week highs today appeared first on The Motley Fool Australia.
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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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