Stock Track | Northern Star Resources Plummets 5.02% Intraday on Weaker Gold Prices and Inflation Fears
Stock Track
Jun 30
Northern Star Resources Ltd (NST.AU) saw its shares plummet 5.02% during intraday trading on Tuesday, significantly underperforming the broader Australian market.
The sharp decline in the gold miner's stock price was primarily driven by weaker bullion prices. Gold prices fell as fresh U.S.-Iran tensions lifted oil prices, sparking fears of inflation and bolstering market expectations for higher interest rates, which typically pressure non-yielding assets like gold.
The sell-off dragged the Australian gold mining sub-index to its lowest level in over two weeks, with Northern Star Resources among the hardest hit constituents during the session.
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