Multiple ASX 200 gold shares are descending on the market today.
Gold producers sliding today include Evolution Mining Ltd (ASX: EVN), Northern Star Resources Ltd (ASX: NST) and Newcrest Mining Ltd (ASX: NCM).
So is the gold price weighing on ASX 200 gold shares?
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Gold price falls
Evolution, Northern Star Resources and Newcrest are all gold producers. Newcrest shares are down 1.18%, Evolution shares are sliding 1.33% while Northern Star shares are 1.8% in the red.
The spot gold price fell 0.5% to US$1,813.2 an ounce overnight, as my Foolish colleague James reported this morning.
Gold prices slipped amid the stronger US dollar and higher treasury yields, Reuters reported.
Commenting on the gold price, Kitco Metals senior analyst Jim Wyckoff said "outside markets on a daily basis have turned more bearish for the metals". He added:
I see aggressive hawkish monetary policy of the Federal Reserve being mostly factored into prices. You're starting to see inflation back down a little.
China is a real wild card right now.
Gold is currently fetching US$1,813.3 an ounce, according to CNBC.
Newcrest is the largest gold company by market cap on the ASX. In late December, Newcrest announced a new interim CEO, Sherry Duhe. Commenting on the leadership change, Newcrest chairman Peter Tomsett said:
Exciting times lie ahead for Newcrest as we continue to grow profitability, lead the way in innovation and sustainability, and deliver a safe workplace where everyone can thrive and excel.
Share price snapshot
The Northern Star share price has climbed 16% in the last year.
The Evolution Mining share price has slid 27% in the past year.
The Newcrest share price has slid 16% in the last 52 weeks.
