ASX gold shares are lower on Friday following a fall in the gold price overnight.
The US dollar and bond yields strengthened and this weighed on the yellow metal.
However, the gold price is rebounding in early trading this afternoon.
It is currently up 0.36% to US$1949.66.
The gold price moved lower last night after stronger-than-expected economic growth in the United States.
Growth in the second quarter came in at 2.4% — well beyond market expectations of 1.8% — thereby raising the possibility of another interest rate hike.
This follows the Fed raising rates again this week by another 25 basis points.
Let's see how ASX gold shares are faring today.
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ASX gold shares slip on Friday
The Capricorn Metals Ltd (ASX: CMM) share price is leading the ASX 200's falling shares today.
The Capricorn share price is down 8.5% to $4.41 following the company's quarterly update.
The company achieved the mid-point of its production guidance for FY23. However, investors may be disappointed with management's FY24 guidance of flat production and higher costs.
Regis Resources Limited (ASX: RRL) shares are also falling heavily today, down 8%. The company released its quarterly report yesterday, revealing higher costs that management expects to go higher.
Here's how the other ASX gold shares are faring in late afternoon trading on Friday:
- The Newcrest Mining Ltd (ASX: NCM) share price is down 2% to $26.36
- The Gold Road Resources Ltd (ASX: GOR) share price is down 5.45% to $1.53
- The Evolution Mining Ltd (ASX: EVN) share price is down 3.7% to $3.62
- The West African Resources Ltd (ASX: WAF) share price is down 5.85% to 89 cents
- The Silver Lake Resources (ASX: SLR) share price is down 3.48% to $1.11
- The Northern Star Resources Ltd (ASX: NST) share price is down 2.85% to $11.41
