It has been a slow start to the year for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) – the index is down 1.4%
But that doesn’t mean there weren’t any stocks that went on incredible runs.
Below I’ve outlined five of the top performing stocks on the ASX, but it probably won’t surprise anyone that 4 of the 5 are gold miners. The gold price has been on a tear thanks to global volatility and the likes of Brexit, a slowing China and ongoing European dramas. Not to mention the US Federal Reserve raising interest rates slower than originally expected.
That’s all good news for gold and it has soared above US$1,300 an ounce. With the Australian dollar trading at around 74 US cents, our gold miners are making a mint – with many having all-in sustaining costs of around the A$1,000 to A$1,100 an ounce mark.
The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.