ASX 200 gold stock De Grey Mining Limited (ASX: DEG) has risen by 95% over the past 12 months.
The De Grey Mining share price closed the session on Tuesday at $1.46.
De Grey is one of many ASX 200 gold stocks that have flown high along with the gold price in 2023.
And it appears one of the company's directors has been cashing in on the bonanza.
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Which De Grey Mining director has been selling shares?
De Grey Mining executive technical director Andrew Beckwith sold 750,000 shares for a total of $1,015,053 between 2 July and 3 July.
A notice lodged with the ASX on 7 July shows the sale involved indirect and direct holdings.
Beckwith reduced his own holdings in the ASX 200 gold stock from 1,615,000 shares to 1,115,000 shares.
His wife, Penelope Beckwith, reduced her holdings from 986,541 shares to 736,541 shares.
The trades were made "to cover taxation liabilities", according to the ASX notice.
Beckwith was a consultant for De Grey Mining before joining as technical director and operations manager in November 2017.
In his company biography, De Grey Mining describes Beckwith as having "played a significant role in the rebirth of the company".
What's pushing ASX 200 gold stocks higher?
The gold price has been climbing since late 2022 and this has been driving gold stocks higher.
The gold price hit a recent peak of US$2,016 per ounce in May. This was very close to the historical record high of US$2,034 reached in August 2020.
The gold price is currently trading at US$1,931, up 0.35% at the time of writing.
ASX 200 gold stocks are considered safe haven assets in times of economic upset.
And with the fear surrounding persistently high inflation and continually rising interest rates, it's no wonder gold stocks are hot this year.
There are still concerns that the United States, and perhaps Australia, may go into recession.
Other ASX 200 gold stocks delivering strong annual performances include Northern Star Resources Ltd (ASX: NST), which is up 89% over the past year.
Evolution Mining Ltd (ASX: EVN) shares are up 46%, Gold Road Resources Ltd (ASX: GOR) shares are up 46%, and Newcrest Mining Ltd (ASX: NCM) shares are up 40%.
