The broader ASX is struggling today but gold shares are outperforming. Right now, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) has lifted 2.2%.
Meanwhile, the All Ordinaries Index (ASX: XAO) is down 0.72%. Looking to the bigger end of town, the S&P/ASX 200 Index (ASX: XJO) has fallen 0.73%.
The sector's gain follows a decent night for gold prices. Gold futures price rose 0.9% to US$1,798 an ounce overnight while spot gold ended the United States' session at around US$1,787 an ounce.
But which ASX gold shares are leading the charge on Thursday? Let's take a look at three posting gains of as much as 11%.
These 3 ASX gold shares are glittering today
First off the bat are shares in$29 million explorer Odyssey Gold Ltd (ASX: ODY). Its share price is soaring 11.36% to trade at 4.9 cents right now.
Its gains come amid news drilling at the company's Tuckanarra joint venture project's Highway Zone has produced more pleasing results.
Assay results from six holes of the 21-hole drilling program have returned significant findings. Odyssey managing director Matt Briggs commented:
These results build upon the outstanding shallow results … received over the last few months.
Bellevue Gold Ltd (ASX: BGL) shares are also rocketing on Thursday, gaining 7.5% to trade at $1.145 at the time of writing.
The stock plummeted 12% yesterday after breaking a two-session trading halt with news of a successful $60 million placement.
The market appears to be taking advantage of Wednesday's tumble today.
Finally, shares in ASX 200 gold favourite St Barbara Ltd (ASX: SBM) are leaping higher despite the company's silence. Right now, the stock is up 4.35% at 64.7 cents.
However, the company won't be wearing its crown for much longer. It will be removed from the ASX 200 in the upcoming quarterly rebalance, to take effect on 19 December.
Of course, that means funds tracking the index will be forced to offload the stock in the coming weeks. That means, as per the law of supply and demand, the near future could be rough on the gold miner's share price.
